🚀 Ather Energy Takes Big Step Towards IPO
Ather Energy Limited, a well-known electric two-wheeler maker, is getting ready for its much-anticipated initial public offering (IPO). The company has recently converted its outstanding condensed preference shares (CCPS) into equity shares. This move is a crucial part of its IPO preparations. The IPO is expected to launch in April 2025.
📈 Major Change in Shares
On March 8, 2025, Ather’s board of directors approved the conversion of over 1.73 crore CCPS into 24.04 crore equity shares. Each of these shares has a face value of one rupee and will be equal to the existing equity shares. According to the rules set by the Securities and Exchange Board of India (SEBI), all CCPS must be converted into equity before the company files its draft documents for the IPO.
💰 Fundraising Plans
Ather Energy’s IPO is expected to be one of the first to launch in the financial year 2025-26. The company filed a draft of documents last September to set up an electric two-wheeler plant in Maharashtra. The aim is to raise funds to pay off debt. The IPO will consist of a new issue of equity shares worth ₹3,100 crore, along with a sale of 2.2 crore shares by promoters and investors.
⚡ Following the Footsteps of Ola Electric
This IPO comes after Ola Electric Mobility’s successful IPO of ₹6,145 crore last August. Ather Energy will be the second electric two-wheeler company to bring a public issue to the market, following Ola Electric. The excitement around electric vehicles continues to grow in India.
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