Ather Energy Limited has raised ~₹2,980 crore from an Initial Public Offering, comprised of a fresh issue of equity shares and an offer for sale by certain selling shareholders, including National Investment and Infrastructure Fund II and affiliates of GIC.

The Book Running Lead Managers on this transaction were Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited, Nomura Financial Advisory and Securities (India) Private Limited.

Shardul Amarchand Mangaldas & Co advised Ather on this IPO.

The transaction team was led by Prashant Gupta, National Practice Head - Capital Markets; Ruth Chenchiah, Partner; Romit Raja Srivastava, Principal Associate; Harini Jambunathan, Senior Associate; and Rishika Sharma, Senior Associate.

The Corporate Advisory team comprised Manav Nagaraj, Partner; and Tarun Reddy, Senior Associate.

Trilegal advised NIIF and GIC on this IPO.

The transaction team consisted of Albin George Thomas (Partner), Sowmya Khandelwal (Senior Associate) and Tushar Chitlangia (Associate).

Cyril Amarchand Mangaldas advised the Book Running Lead Managers on this IPO.

The transaction team consisted of Yash J. Ashar (Senior Partner), Reuben Chacko (Partner, Regional Co-Head, Capital Markets - South), Abhyuday Bhotika (Partner), Tanvi Kini (Principal Associate), Anjali Menon (Principal Associate), Megha Rajesh (Associate), Akhil Sreenadhu (Associate), and Sade Tejaswi (Associate).

JSA Advocates & Solicitors acted as counsel to Hero MotoCorp Limited, the corporate promoter of Ather Energy, in this IPO.

The transaction team was led by Madhurima Mukherjee Saha (Partner), along with Anuj Pethia (Partner) and Sagar Batra (Partner), Senior Associates - Ambuj Gupta and Richa Prasad, Associates - Kumar Shubham, Priyanshi Bajaj, Tamanna Kapoor, and Anshuman Singh.

They were supported by the corporate team led by Venkatesh Raman Prasad (Partner) along with Ronak Ajmera (Partner) and Ankita Jain (Principal Associate).

Ather Energy was established in 2013 by Tarun Mehta and Swapnil Jain. The Bengaluru-based company operates in the electric mobility sector, focusing on the design, manufacture, and sale of high-performance electric scooters.

Ather Energy is the second electric two-wheeler company to list on Indian stock exchanges. Further, this is the first mainboard IPO to list on Indian stock exchanges in Fiscal 2026.

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