Ather Energy Ltd. IPO

We are a pure play EV company that sells E2Ws and the associated product ecosystem, comprised of our software, charging infrastructure and smart accessories, all of which are conceptualised and designed by us in India. We manufacture battery packs in-house using lithium-ion cells procured from ... suppliers and outsource the manufacturing of all other vehicle components, such as electronics and chassis. We procure chargers and motors used in our E2Ws from our suppliers who design and manufacture them. We assemble our E2Ws in-house. Our E2W portfolio comprises two product lines, the Ather 450 and the Ather Rizta, with seven variants. The Atherstack, our in-house developed software, provides features related to navigation, analytics, ride assistance, safety and productivity, and is integrated with our product ecosystem. Our products are positioned at premium prices in their respective segments. Read more

According to the CRISIL Report, India is the largest global motorised 2W market by volume with 18.4 million units sold in Fiscal Year 2024, of which 16% were exports. In the nine months ended December 31, 2024, exports accounted for 17% of the overall 2W sales in India. There is increasing ... preference for premium vehicles within the 2W industry, with a growth in market share of motorcycles and scooters with an engine capacity of 125 cc and beyond between Fiscal Years 2019 and 2024. The launch of EVs at competitive prices with advanced features is accelerating E2W growth, which is expected to reach ~10.3 – ~12.3 million units by Fiscal Year 2031. The sharp increase in EV launches, favourable government support, continuation of incentives and benefits, faster momentu m in infrastructure development, further lowering of battery prices and improving local value chain is expected to enable a faster shift towards electrifications. Such electrification and premiumisation trends present a large domestic and international opportunity for E2W players. Read more