Electric two-wheeler manufacturer Ather Energy has raised approximately ₹13 billion (~$134.74 million) through a qualified institutional placement of equity shares.

The company’s Fund Raise Committee approved the issue and allotment of 10,815,307 equity shares to eligible qualified institutional buyers. Each share had a face value of ₹1 (~$0.010) and was issued at ₹1,202 (~$12.46), including a premium of ₹1,201 (~$12.45) per share.

The issue price was higher than the floor price of ₹1,169.70 (~$12.12) per share.

The placement opened on July 15, 2026, and closed on July 20, 2026.

Following the allotment, Ather Energy’s paid-up equity share capital increased from approximately ₹383.31 million (~$3.97 million) to approximately ₹394.13 million (~$4.09 million).

HDFC Bank received the largest allocation among investors, with  a combined 1.45 million shares, representing 13.46% of the total placement

Aditya Birla Sun Life Mutual Fund received 1.4 million shares across several schemes, accounting for 13.08% of the issue, followed by Axis Mutual Fund, which received 1.08 million shares, representing 10% of the total placement.

Edelweiss Mutual Fund and associated schemes received 831,947 shares, and Tata Mutual Fund schemes were allotted 623,961 shares.

Motilal Oswal Mutual Fund received 582,363 shares through its Dynamic Fund and Multi Cap Fund.

Abu Dhabi Investment Authority received 565,182 shares through two foreign portfolio investor accounts.

Ather Energy said it would file the pre- and post-QIP shareholding pattern along with the listing application, in accordance with applicable Securities and Exchange Board of India’s listing regulations.

Recently, Ather Energy’s board approved a preferential issue to raise ₹12 billion (~$124.5 million) through a combination of equity shares and convertible warrants. The fundraising comprises a preferential issue of 1.6 million equity shares at ₹1,230 (~$12.76) per share and 7.9 million convertible warrants at ₹1,260 (~$13.7) per warrant.

According to the data released by the Ministry of Road Transport and Highways through its Vahan Dashboard, Electric vehicle sales in India reached 837,453 units in the second quarter of 2026, a year-over-year increase of 52.3% over 549,900 units recorded in the corresponding quarter of 2025.