Ather Energy's Bold Move in a Volatile Market

Electric vehicle startup Ather Energy, a direct competitor to Ola Electric, is poised to break the two-month silence in mainboard IPOs with its ambitious Rs 2,981 crore debut on Dalal Street come April 28. This marks the first new-age IPO of fiscal 2026, launching amidst market turbulence influenced by the unpredictability surrounding Trump tariffs.

Adjusting Sails in Uncharted Waters

In response to the market's volatility, Ather Energy has prudently decided to scale down its issue size and recalibrate its valuation expectations. With a price band set between Rs 304 and Rs 321 per share, the company's valuation is estimated at around Rs 12,500 crore, or approximately $1.5 billion— a figure that falls short of the initial $2 billion target. Despite these adjustments, Ather remains optimistic, banking on the escalating trend of premiumisation to fuel demand for its electric scooters.