Ather Energy files updated IPO papers valuing itself at ₹14,000 crores – CNBC TV18

Electrical two-wheeler maker Ather Energy has re-filed for its preliminary public providing (IPO), and CNBC-TV18 learns that this fundraising train will peg its valuation at round ₹14,000 crores.

Sources say Ather plans to lift ₹3,700-4,000 crore. This shall be by means of a mixture of main and secondary share sale.

Ather’s IPO was initially deliberate for earlier this 12 months, with its IPO plans getting the market regulator’s approval within the final week of December 2024. Now, the corporate expects market circumstances to ease beginning Could, and is learnt to be eyeing an inventory by the tip of March.

Founders Tarun Mehta and Swapnil Jain, together with current buyers like Nationwide Funding and Infrastructure Fund Restricted (NIIF) and Tiger World Administration’s Web Fund III are set to dump a part of their stakes within the IPO. Nonetheless, Hero MotoCorp, which holds over 37% of Ather, won’t take part within the share sale.
In its final fundraise in August 2024 by which Ather Energy raised ₹600 crores, Flipkart founder Sachin Bansal bought his stake within the firm. A portion of this stake was purchased by Zerodha founder Nikhil Kamath in his private capability. After this spherical, Ather Energy’s valuation was pegged at a little bit above ₹10,000 crores. This gave it Unicorn standing.

Ather’s public concern comes at a time when India’s electrical two-wheeler market is seeing indicators of weakening demand. Based on the Federation of Vehicle Sellers Associations (FADA), EV two-wheeler gross sales in February dropped 8% 12 months-on-12 months to 76,086 models. Regardless of this, Ather managed to develop its gross sales by 20%, though its rival Ola Electrical noticed an excellent increased development fee of 52% final 12 months.

Ather Energy clocked revenues of ₹1,753 crores in FY24.

Ather Energy would be the second pure-play Indian EV producer to go public in India, following Ola Electrical’s IPO final 12 months. Ola’s itemizing was a landmark second for the sector, however its inventory efficiency has since struggled.

Ola Electrical’s shares have tumbled by as a lot as 65% from their peak valuation of $7.7 billion in August. This decline has raised questions on investor confidence within the Indian EV sector.

Additionally learn: Ather Energy converts desire shares into fairness, more likely to launch IPO in April