Ather Energy, the Tiger Global-backed firm, raised Rs 1,340 crore from anchor investors in advance of its impending public offering, as per a BSE filing. The firm placed 41,745,576 equity shares at Rs 321 per share. Some of the prominent investors in this allocation are Morgan Stanley Investment Funds, Custody Bank of Japan, Franklin Templeton, and Abu Dhabi Investment Authority, among others.
Around 49.6% of the overall allocation to anchor investors went to seven domestic mutual funds, which invested through 14 schemes, including SBI, Aditya Birla Sun Life, ICICI Prudential, and Invesco India.

Ola Electric's rival Ather Energy, founded by Bhavish Aggarwal, has fixed its share price between Rs 304 and Rs 321. The public issue will open on April 28 and will have a fresh issue of Rs 2,626 crore along with an offer for sale of up to 1.1 crore shares. At the higher end price of Rs 321, offer for sale is approximated to be valued at around Rs 354.76 crore. The company from Bengaluru is valued at Rs 11,956 crore at the higher end and Rs 11,322 crore at the lower end.

Considering the general market situation, Ather Energy has cut down the size of its IPO from the originally planned Rs 3,100 crore to Rs 2,626 crore. For the nine months ended December 31, 2024, the company had a revenue of Rs 1,578.9 crore as against Rs 1,230.4 crore in the previous year corresponding period. Ather Energy has also been able to narrow down its losses by posting a loss of Rs 577.9 crore as against Rs 776.4 crore in 2023.