Ather board clears Rs 2,500 cr raise to bankroll Factory 3.0 in Maharashtra
Ather Energy will tap Rs 1,500 cr via QIP and Rs 1,000 cr through equity-linked instruments to fund its 1 million-unit Factory 3.0 in Chhatrapati Sambhajinagar. The raise follows a Rs 2,981 cr IPO and comes as EV two-wheeler share hits 17% with 28,211 May units sold.
Ather Energy's board approved a Rs 2,500 crore fundraise via QIP and equity-linked instruments to fund its Factory 3.0 in Maharashtra. The raise follows rising EV two-wheeler market share at 17% and strong May sales of 28,211 units.