Ather Energy’s Board of Directors has approved a significant fundraising initiative, aiming to raise up to ₹2,500 Crores. This capital will be raised through a combination of qualified institutions placement (QIP) for equity shares up to ₹1,500 Crores and issuance of equity shares and/or foreign currency convertible bonds (FCCBs) and other eligible instruments for up to ₹1,000 Crores. A dedicated Fund Raise Committee has been established to manage this process.
Ather Energy Announces Major Funding Initiative
In a significant development for the electric vehicle manufacturer, Ather Energy Limited announced today, June 12, 2026, that its Board of Directors has approved a substantial fundraising plan. The company intends to raise capital amounting to up to ₹2,500 Crores in aggregate. This strategic move is designed to fuel the company’s growth and expansion initiatives.
Fundraising Structure and Details
The proposed fundraising will be executed through two primary avenues. Firstly, up to ₹1,500 Crores will be raised via a qualified institutions placement (QIP) of equity shares. This will be done in one or more tranches, with terms and conditions to be determined by the Board. Secondly, an additional amount of up to ₹1,000 Crores will be raised through the issuance of equity shares and/or foreign currency convertible bonds (FCCBs), or any other permissible instruments representing equity shares or convertible into equity shares. These can be Rupee denominated or denominated in foreign currencies, and can be raised through preferential issues, rights issues, or other legally permitted modes.
Governance and Next Steps
To oversee this critical financial undertaking, the Board of Directors has formally constituted a Fund Raise Committee. This committee will be responsible for managing all aspects pertaining to the proposed fund raise. Additionally, a special resolution will be sought from the company’s members via a postal ballot for the QIP of equity shares, as specified in paragraph 1(a) of the announcement.
The Board meeting, where these approvals were granted, commenced at 6:00 pm IST and concluded at 9:30 pm IST on June 12, 2026.
Source: BSE
