Ather Energy board approves Rs 2,500 crore fundraise plan through QIP, other securities

Electric two-wheeler maker Ather Energy has approved a proposal to raise up to Rs 2,500 crore through equity and convertible securities, according to a stock exchange filing.

The company’s board cleared the plan at a meeting held on 12 June 2026.

Under the proposal, Ather may raise up to Rs 1,500 crore through a Qualified Institutional Placement of equity shares in one or more tranches.

It may raise a further Rs 1,000 crore through equity shares, foreign currency convertible bonds, or other eligible securities that are convertible into or exchangeable for equity shares. The company said this portion could be raised through permitted routes, including a preferential issue, rights issue or other methods allowed under applicable law.

The proposed fundraising remains subject to regulatory, statutory and shareholder approvals, where required.

Ather has also constituted a Fund Raise Committee to deal with matters related to the proposed capital raise.

The company will seek shareholder approval for the QIP through a postal ballot conducted only through electronic voting. It said the postal ballot notice, containing further details, would be submitted to the stock exchanges in due course.

The filing did not disclose the names of potential investors, issue pricing, the number of securities to be issued, or the timeline for allotment. These details will be determined by the board at the appropriate time, if applicable.

The announcement comes after Ather reported improved financial performance for the fourth quarter of the 2025-26 financial year.

According to the company’s financial report, revenue from operations rose 74% year-on-year to Rs 1,174.66 crore in the quarter, compared with Rs 676.8 crore a year earlier. The company’s net loss narrowed by 57% to Rs 100.23 crore.

Ather’s move comes days after rival Ola Electric completed a Rs 780.24 crore fundraise through a Qualified Institutional Placement.