Electric two-wheeler manufacturer Ather Energy Ltd has approved a proposal to raise up to ₹2,500 crore through a combination of equity and debt instruments, as the company looks to strengthen its growth plans and expand its presence in India’s rapidly evolving electric mobility market.
Fund raising plan approved
The company’s Board of Directors has approved the issuance of securities aggregating up to ₹2,500 crore. The proposed fund raise includes the issuance of equity shares through a Qualified Institutions Placement (QIP) for up to ₹1,500 crore.
In addition, the board has approved raising up to ₹1,000 crore through Foreign Currency Convertible Bonds (FCCBs).
To oversee the process, the Board has constituted a Fund Raise Committee that will handle all matters related to the proposed capital raising exercise. The company is seeking shareholders’ approval for the fund raise through a postal ballot process.
Rizta emerges as growth driver
The fund-raising proposal comes amid strong momentum for Ather’s family scooter, the Rizta, which recently crossed the 3 lakh-unit sales milestone within two years of its launch.
Introduced in April 2024 as the company’s first family-oriented electric scooter, the Rizta has become Ather’s largest volume contributor and a key driver of its expansion into new markets and customer segments. The scooter crossed the 2 lakh-unit sales mark in December 2025 and added another 1 lakh units within just five months.
Market share gains across regions
The Rizta has played a significant role in helping Ather expand beyond its traditional stronghold in Southern India.
According to Vahan and Telangana Vehicle Online Sales data, Ather’s market share in Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh and Odisha increased fourfold from 4.1% in the first quarter of FY25 to 17.3% in the fourth quarter of FY26.
Northern markets, including Punjab, Rajasthan and Uttar Pradesh, also recorded more than threefold growth in market share during the same period. Today, the Rizta contributes the majority of Ather’s sales volumes across these regions.
Innovation-led electric mobility player
Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather Energy designs and manufactures electric scooters focused on performance, technology and connected mobility.
The company’s current portfolio comprises the Ather 450 performance scooter range and the Ather Rizta family scooter line, together offering nine variants.
Ather was also the first two-wheeler OEM in India to establish a dedicated fast-charging network, Ather Grid. As of March 31, 2026, the company operated the country’s widest two-wheeler fast-charging network.
Reflecting its focus on innovation and research, Ather held 326 registered trademarks, 271 registered designs and 52 registered patents as of March 31, 2026, while also maintaining hundreds of pending intellectual property applications globally