Ather Energy Limited has successfully concluded its Qualified Institutions Placement (QIP), allotting 1,08,15,307 equity shares at an issue price of ₹1,202 per share, aggregating to ₹1,299,99,99,014. The issue, which opened on July 15, 2026, and closed on July 20, 2026, saw participation from major mutual funds and foreign portfolio investors. The allotment price represents a premium of ₹1,201 over the face value of ₹1 and is higher than the floor price of ₹1,169.70 per share.

Issue Details and Pricing

The final issue price was determined in accordance with the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations. The Fund Raise Committee of the Board of Directors approved the allotment via a circular resolution passed on July 20, 2026. Pursuant to the allotment, the paid-up equity share capital of the company has increased from ₹38,33,10,002 to ₹39,41,25,309.

Major Allottees

The placement attracted significant interest from institutional investors. HDFC Trustee Company Limited and Aditya Birla Sun Life Mutual Fund were among the top subscribers, receiving over 13% of the total issue size each when considering PAN clubbed holdings. Other key participants included Axis Mutual Fund, Edelweiss Mutual Fund, and Abu Dhabi Investment Authority.

Regulatory Compliance

Puja Aggarwal, Company Secretary & Compliance Officer, confirmed the submission of necessary details to the National Stock Exchange of India Ltd and BSE Limited under the SEBI LODR Regulations. The shareholding pattern of the company before and after the issue will be submitted along with the listing application.

Ather Energy has scheduled an Extraordinary General Meeting (EGM) on August 14, 2026, to seek shareholder approval for raising funds aggregating up to INR 1,200 crores through a preferential issue of equity shares and convertible warrants. The meeting, to be held via Video Conferencing at 11:30 AM IST, aims to approve the issuance of securities to specific investors including India-Japan Fund and promoters, subject to regulatory approvals under the Companies Act, 2013, and SEBI ICDR Regulations. The capital infusion is intended to strengthen the company's financial position and support general corporate purposes.

The preferential issue comprises 16,26,016 fully paid-up equity shares to be issued to India-Japan Fund at INR 1,230 per share, including a premium of INR 1,229. Additionally, 79,36,507 convertible warrants are proposed to be allotted to promoters Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain at INR 1,260 per warrant. These warrants, convertible into equity shares of INR 1 each, carry a tenure not exceeding 18 months from the date of allotment.

Issue and Pricing Structure

The allocation details and pricing premiums for the preferential issue are outlined below.

The total subscription amount for the equity shares is INR 199.99 crores, while the warrants aggregate to INR 999.99 crores. For the warrants, 25% of the issue price is payable at allotment, with the remaining 75% due upon conversion into equity shares. If warrants are not converted within the stipulated 18-month period, they will lapse, and the initial amount paid will be forfeited.

Shareholding Pattern

The issuance will alter the shareholding percentages of the proposed allottees on a fully diluted basis.

Remote e-voting will commence on August 11, 2026, at 9:00 a.m. IST and conclude on August 13, 2026, at 5:00 p.m. IST. The results of the e-voting are expected to be declared on or before August 16, 2026. The company has appointed CS Biswajit Ghosh or CS Pramod S M of M/s. BMP & Co. LLP as the scrutinizer for the meeting.