Mumbai: EV startup Ather Energy, which rivals Ola Electric, is set to end the two-month hiatus in mainboard IPOs with its Rs 2,981 crore issue hitting Dalal Street on April 28. It is also the first new-age IPO of fiscal 2026, coming amid market volatility triggered by uncertainty around Trump tariffs.
An unpredictable market partly nudged Ather to reduce its issue size and readjust its valuation targets. At the upper end of the price band set at Rs 304-321 per share, the company’s implied valuation would be about Rs 12,500 crore, or nearly $1.5 billion, lower than the $2 billion target it initially eyed. Ather is betting on growing premiumisation to boost demand for its electric scooters.
