Ather received an observation letter from SEBI on December 23. The issuance of an observation letter indicates permission for Ather’s IPO

[{"selector":"#anim-77c58f28-b58e-41e0-8b13-7ef506f6a97c","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-36a49059-be96-49e9-aec8-8c8a044286db","keyframes":{"transform":["translate3d(0px, 126.12487%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Earlier this year, the EV powerhouse joined the unicorn club by raising INR 600 Cr from its existing investor NIIF at a post-money valuation of $1.3 billion

[{"selector":"#anim-978cb665-d70a-4532-a2ca-45af39aa3f4b","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-646b0f56-5663-48c4-b562-f962dea24263","keyframes":{"transform":["translate3d(0px, 124.47198%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

With all necessary permits in place, Ather Energy’s is expected to become the country's second EV maker to list on the bourses, following Ola Electric

[{"selector":"#anim-4dd4e5e0-2b1b-4d39-bcaa-be737fc1b6d1","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b414223e-f5a8-4d54-92fb-28496adc147a","keyframes":{"transform":["translate3d(0px, 126.12487%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ather's IPO proceedings began in June 2024, after it became a public limited company

[{"selector":"#anim-39b20b31-ea55-4378-aaea-3ddccd8cfbff","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0a41b45c-7378-4d3e-9eed-77c7cd6e7d1c","keyframes":{"transform":["translate3d(0px, 146.20306%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In September, the electric two-wheeler firm filed a draft red herring prospectus (DRHP) for an IPO for more than INR 3,100 crore

[{"selector":"#anim-3ade8c65-2cb7-4087-8b52-e10d06dd9eb4","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1859c36e-c698-4782-8863-22081186c9dc","keyframes":{"transform":["translate3d(0px, 141.90160%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The planned public offering will consist of a new issuance of shares worth INR 3,100 crore and an offer for sale (OFS) of up to 2.2 crore shares

[{"selector":"#anim-1a25d8c9-cce5-49ef-b0b0-65d7a6e3e0ac","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1e24c60c-32c5-4b3e-ac3d-3a8f6fc645e1","keyframes":{"transform":["translate3d(0px, 128.17967%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Tiger Global, Caladium Investments, NIIF, Binny Bansal's 3 State Ventures, Tarun Mehta and Swapnil Jain will sell their holdings through the OFS

[{"selector":"#anim-c39a2df6-8ae1-4b54-9e71-4415a2996f2e","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a736f81d-4928-45aa-ad22-10ae20d7cf9a","keyframes":{"transform":["translate3d(0px, 127.32862%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

From January to November 2024, Ather sold 1.07 lakh EV two-wheelers

[{"selector":"#anim-64480571-5b54-424d-a6c2-35090a1f9e51","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0c132a58-b3a3-4c75-ab36-67011c6b58c6","keyframes":{"transform":["translate3d(0px, 147.18074%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ather's consolidated net loss increased by more than 22% to INR 1,059.7 Cr in FY24 from INR 864.5 crore in the previous year

[{"selector":"#anim-1fe5fecc-5f16-4d86-8659-de6e52d89540","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f65c4f07-2cb2-48a4-8315-b0a0207eec10","keyframes":{"transform":["translate3d(0px, 133.44389%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

During the fiscal year under review, revenue from operations fell by a minor 1.5% year on year (YoY) to INR 1,753.8 crore

[{"selector":"#anim-242f226d-cf6c-41a5-9f85-78de53e19927","keyframes":{"opacity":[0,1]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0668565b-c83e-49bf-97e4-b3a02caa5fee","keyframes":{"transform":["translate3d(0px, 133.44389%, 0)","translate3d(0px, 0px, 0)"]},"delay":1,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]