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Ather Energy Revs Up for IPO, Enlists HSBC, JPMorgan, Nomura, and Indian Banks

Electrifying Markets, Ather Energy's IPO Sparks Green Revolution in Transportation

6 March 2024

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Kunal Tyagi

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  • Ather Energy Pvt has selected financial heavyweights like HSBC Holdings Plc, Nomura Holdings Inc., and JPMorgan Chase & Co. to facilitate its upcoming IPO, along with local banks JM Financial Ltd. and Axis Bank Ltd.

  • Speculations suggest the IPO could value Ather at around $2 billion, with plans to raise approximately $400 million through the share sale.

  • Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather has garnered support from prominent investors including the National Investment and Infrastructure Fund Ltd., Hero MotoCorp Ltd., and Flipkart co-founders Sachin Bansal and Binny Bansal.

The Indian electric-scooter manufacturer, Ather Energy Pvt, has made significant strides towards its much-anticipated initial public offering (IPO). According to insiders familiar with the matter, the company has enlisted the expertise of financial giants such as HSBC Holdings Plc, Nomura Holdings Inc., and JPMorgan Chase & Co. to orchestrate its IPO, alongside local banking stalwarts JM Financial Ltd. and Axis Bank Ltd.


This decision underscores Ather's strategic approach to navigate the complexities of the financial market and capitalize on the burgeoning demand for sustainable transportation solutions. The timing of the IPO, slated for the second half of the year in Mumbai, remains contingent upon market conditions, with the possibility of additional banks being roped in to bolster the offering.


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Speculations abound regarding the potential valuation of Ather Energy, with Bloomberg News reporting a figure of around $2 billion. Sources close to the matter suggest that the company aims to raise approximately $400 million through the share sale, although finer details such as the precise size and valuation remain subject to change.


Founded in 2013 by Tarun Mehta and Swapnil Jain, both alumni of the prestigious Indian Institute of Technology Madras, Ather has garnered significant attention and support from investors. Notable backers include the National Investment and Infrastructure Fund Ltd., Hero MotoCorp Ltd., Flipkart co-founders Sachin Bansal and Binny Bansal, and Tiger Global Management.


Ather's journey from inception to IPO epitomizes the entrepreneurial spirit driving India's burgeoning electric vehicle sector. With a commitment to innovation, sustainability, and customer-centricity, the company is poised to redefine urban mobility and carve a niche for itself in the global market.


As Ather Energy gears up to debut on the stock exchange, anticipation runs high among investors, enthusiasts, and industry observers alike. The IPO not only represents a pivotal moment for the company but also serves as a testament to India's potential as a hub for transformative technological ventures in the realm of clean energy and transportation.


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