Electric two-wheeler maker Ather Energy Ltd announced that its shareholders have approved a ₹1,200 crore preferential issue with 97.72% votes in favor at an extraordinary general meeting on Friday. According to the company's exchange filing, this approval represents a significant milestone in the company's fundraising efforts.
The preferential issue, combined with the recently completed ₹1,300 crore qualified institutional placement (QIP), brings Ather Energy's total fundraise to approximately ₹2,500 crore. As reported by the company, this substantial capital raise will support investments in manufacturing capacity, product and technology capabilities, and strengthen the company's balance sheet.
Hero MotoCorp and India-Japan Fund emerged as major investors in the preferential issue, with Hero MotoCorp investing ₹960 crore through warrants and India-Japan Fund contributing ₹200 crore via equity shares. Co-founders Tarun Mehta and Swapnil Jain will each invest ₹20 crore in the fundraise. The QIP attracted bids worth over ₹10,000 crore, with participation from leading domestic and global institutional investors.
The fundraise comes as Ather Energy demonstrates robust financial growth, delivering 2.63 lakh scooters in FY26 with total income rising 66% year-on-year to ₹3,823 crore. The company achieved a significant milestone by turning EBITDA positive in Q1 FY27, marking a crucial step in its path to profitability. A new facility at AURIC is expected to add five lakh units of annual production capacity in Q3 FY27.
