CosmicTaco

Ather to file IPO next week; Q1 revenue at ₹339 cr

CosmicTaco · 2024-09-09T11:30:26.682207+05:30

- Ather Energy is planning to file its draft red herring prospectus (DRHP) with SEBI next week for an INR 4,500 Cr IPO, targeting a valuation of around $2.5 Bn. - This move follows Ola Electric's public debut, which raised over INR 6,145.6 Cr, valuing the company at $4 Bn. - Ather recently joined the unicorn club after raising INR 600 Cr from National Investment and Infrastructure Fund, reaching a post-money valuation of $1.3 Bn. - The company manufactures escooters and battery packs, and has expanded its business to Sri Lanka and Nepal. - Despite its growth, Ather remains a loss-making entity, with net losses widening to INR 1,059.7 Cr in FY24. Source: [Inc42](https://inc42.com/buzz/ather-energy-eyes-inr-4500-cr-ipo-to-file-drhp-next-week/)

Ather Energy is planning to file its draft red herring prospectus (DRHP) with SEBI next week for an INR 4,500 Cr IPO, targeting a valuation of around $2.5 Bn.
This move follows Ola Electric's public debut, which raised over INR 6,145.6 Cr, valuing the company at $4 Bn.
Ather recently joined the unicorn club after raising INR 600 Cr from National Investment and Infrastructure Fund, reaching a post-money valuation of $1.3 Bn.
The company manufactures escooters and battery packs, and has expanded its business to Sri Lanka and Nepal.
Despite its growth, Ather remains a loss-making entity, with net losses widening to INR 1,059.7 Cr in FY24.

Source: Inc42

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FluffyCoconut

Cisco9mo

Wow proud of what they’ve accomplished. Love the Ather product

Heard they came very close to going bankrupt in this journey. But finally they’ll be going public. ❤️

ZippyLlama

Oracle9mo

Even though they have the best product out there, marketing matters. If I ask a common man in my Tier 3 town about Ather, most probably they might not have heard it. The name itself is too fancy. I still doubt their future progress. Also I do believe traditional ICE players will take over in EVs too and recent reports are suggesting the same. Anyways, it's a great company with a genuine product.