Electric two-wheeler (e2W) maker Ather Energy's board will meet on July 15 to consider and approve raising funds through equity shares, foreign currency convertible bonds (FCCBs) and other equity-linked securities, the company said in a stock exchange filing.
The board meeting is part of the company's previously announced plan to raise up to Rs 2,500 crore to fund expansion, research and development, new product development, manufacturing capacity enhancement, and other corporate purposes.
The fundraising could be undertaken in one or more tranches through permissible routes, including a preferential issue, subject to regulatory and shareholder approvals, the company said.
The move comes a little over a year after Ather's Rs 2,981-crore initial public offering (IPO) . The Bengaluru-based company currently has a market capitalisation of about Rs 38,400 crore.
The fundraise follows rival Ola Electric raising Rs 780 crore through a qualified institutional placement (QIP) , with investors including SBI Mutual Fund, Motilal Oswal Mutual Fund, and Invesco participating in the issue in June.
Unlike Ola Electric, which has been grappling with slowing sales and profitability pressures, Ather is approaching investors after a year of strong operational growth.
The company reported a 66% jump in vehicle volumes in FY26, while its market share expanded from about 8% to 18.6% by the March quarter, driven largely by the success of its Rizta family scooter. During the year, Ather doubled its retail footprint to 700 stores and more than doubled its service network.
The fresh capital is also expected to support the launch of its upcoming EL scooter platform aimed at the mass-market segment. The company is also expanding manufacturing capacity with a new 98-acre facility at AURIC City in Maharashtra, where it plans to invest more than Rs 2,000 crore. The first phase of the plant is expected to add annual production capacity of 5 lakh units.
