Bengaluru-based Ather Energy is charging into the public market with an INR 29.81 billion initial public offering (IPO), marking a pivotal moment in the evolution of India’s electric mobility space. The IPO, which opens for public bidding on April 28 and closes on April 30, reflects growing confidence in India’s electric vehicle (EV) market, even as global trade dynamics remain uncertain.
Priced between INR 304 and INR 321 per equity share, Ather’s offering consists of a fresh issue worth INR 26.26 billion and an Offer for Sale (OFS) of approximately INR 3.55 billion. Early stakeholders offloading shares include co-founders Tarun Mehta and Swapnil Jain, as well as prominent institutional investors such as Caladium Investment, National Investment and Infrastructure Fund II and Hero MotoCorp-backed venture arms.

A Strategic Leap 
Founded in 2013, Ather Energy has built a reputation for innovation and quality in the Indian two-wheeler segment. Best known for its flagship 450X electric scooter and the recently launched family-oriented Rizta, Ather has maintained a premium positioning in a price-sensitive market, a feat achieved through a blend of robust design, cutting-edge tech and consistent consumer engagement.
Now, as the company seeks to raise capital for the next leg of its journey, the strategic intent behind the IPO is clear. Proceeds from the fresh issue will be used to ramp up manufacturing capacity, enhance the product portfolio, pare down debt and invest in corporate infrastructure. This expansion is crucial for Ather to retain its competitive edge against deep-pocketed rivals, including legacy automakers and well-funded start-ups.

Driving Growth
At a recent press conference, Chief Executive Officer Tarun Mehta struck an optimistic note on the state of India’s EV ecosystem. “While the entire tariff situation is open, in our opinion, the Indian consumer story, specifically the EV adoption story, remains unchallenged because it’s driven by very secular truths,” he said.
Mehta highlighted three primary factors underpinning the surge in electric two-wheeler adoption including a significantly lower total cost of ownership, greater ease of use and long-term structural shifts favouring clean mobility. These drivers provide insulation against short-term geopolitical disruptions and policy volatility.
That confidence appears to be resonating with both retail and institutional investors with many market watchers calling the IPO a barometer of the Indian EV market’s maturity.

IPO Mechanics and Market Positioning
The offering is being made under Regulation 6(2) of the SEBI ICDR Regulations via a 100 percent book-building process with shares set to list on both the BSE and the NSE. Anchor investor bidding opens on April 25, ahead of the general subscription window.
 

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Tata.ev, the electric vehicle brand from Tata Motors, has announced that it has launched the first 10 high-speed TATA.ev MegaChargers across key urban and highway corridors. Developed in partnership with ChargeZone and Statiq, the move is part of TATA.ev’s broader plan to scale up to 400,000 public charge points by 2027.

The MegaChargers are strategically located along high-traffic routes with an aim to ease long-distance travel and daily urban commuting for EV users by offering fast, reliable and accessible charging infrastructure. This launch is a flagship initiative under TATA.ev’s ‘Open Collaboration’ framework, which fosters partnerships with Charge Point Operators (CPOs) and Oil Marketing Companies (OMCs).

Balaje Rajan, Chief Strategy Officer, Tata Passenger Electric Mobility and Tata Motors Passenger Vehicles, said, “At a time when EV adoption is on its growth path, ubiquitous and dependable charging infrastructure is the need of the hour. These first 10 TATA.ev MegaCharger sites in key EV corridors of the country are the first tranche of a superfast charging network that we will have across major highways. The TATA.ev MegaCharger network will increasingly connect all major cities across India to remove charging anxiety. We are on a mission to provide fast, reliable, and effortless charging that enables seamless mobility across the country – and we are just getting started.”

The MegaCharger are set up at –

• Mumbai–Ahmedabad Highway (in partnership with ChargeZone):
• Shreenath Food Hub, Vadodara – 400 kW charger supports up to 6 vehicles, delivers 150 km range in 15 minutes
• Shanti Complex, Vapi
• Hotel Xpress Inn, Ghodbunder
• Delhi–Jaipur Highway (in collaboration with Statiq):
• SS Plaza, Gurugram
• Hotel Old Rao, Kaprivas
• Asli Pappu Dhaba, Hamzapur
• Hotel Highway King, Shahpura
• Other Urban & Intercity Sites:
• Rajgurunagar (Pune–Nashik Highway) – Akash Misal House (120 kW, with ChargeZone)
• Bengaluru – Monk Mansion, Electronic City (urban fast-charging with Statiq)
• Udaipur – Ramee Royal Resort (120 kW, tourist-friendly with ChargeZone)

As announced earlier, each MegaCharger location is equipped with amenities such as restrooms, dining, Wi-Fi and lounge areas, creating a premium and user-friendly experience for EV users.

Akshit Bansal, Founder & CEO, Statiq, said, “Our collaboration with TATA.ev is a milestone in building a trusted, nationwide EV charging network. By co-branding with them, we will make EV adoption more accessible and reliable for every Indian, empowering users to easily locate and use charging stations through the iRA.ev and  Statiq app.”

Kartikey Hariyani, CEO & MD, ChargeZone, said, “We are proud to partner with TATA.ev to unveil our first co-branded SuperCharging Station on NH48, which is strategically located along key National Highway corridors. Together, ChargeZone and TATA.ev are pushing the boundaries of EV charging in India by focusing on the needs of today’s EV drivers – fast, reliable and easily accessible solutions. We are building a seamless EV ecosystem that supports innovative features including auto charge, RFID tap and charge, which meets current demands and future mobility needs.”

With 500 TATA.ev MegaChargers planned nationwide, the company is aiming to make electric mobility a serious choice for passenger vehicle customers.

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Tata Motors, one of India’s largest commercial vehicle manufacturers has inked a Memorandum of Understanding (MoU) with Vertelo, an electric mobility solutions provider, to make electric commercial vehicles (e-CVs) more accessible for customers.

As per the understanding, Vertelo will provide customised leasing solutions on Tata Motors’ electric commercial vehicle portfolio, which will enable fleet owners transition smoothly to sustainable mobility.

Rajesh Kaul, Vice-President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “Tata Motors is committed to democratising electric mobility, ensuring that accessibility to sustainable transportation solutions is extended to all customers. This partnership with Vertelo marks a significant milestone in that journey, enabling broader access to our advanced electric commercial vehicles. Through such collaborations, we are not just accelerating the adoption of sustainable transport solutions but also contributing to the development of a robust EV ecosystem in India.”

Sandeep Gambhir, CEO, Vertelo, added, “We are delighted to join hands with Tata Motors in accelerating EV adoption across a wide range of electric commercial vehicles including buses, trucks and mini-trucks. This partnership will facilitate bespoke leasing solutions and facilitate creation of a sustainable ecosystem that makes electric mobility the natural choice for commercial fleet operators. This collaboration will enable Tata Motors and Vertelo to accelerate adoption of electric commercial vehicles and create eco-friendly mobility solutions at scale.”

At present, Tata Motors’ e-CV portfolio includes the Tata Ace EV for last-mile mobility and Tata Ultra & Tata Starbus range in mass-mobility solutions.

The OEM has also showcased the Tata Prima E.55S, Tata Ultra E.12, Tata Magna EV bus, Tata Ultra EV 9 bus, Tata Intercity EV 2.0 bus, Tata Ace Pro EV and Tata Intra EV, catering to wide applications and customer requirements across product lines.

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Pune-headquartered electric vehicle manufacturer EKA Mobility has received the Letter of Award (LOA) for deploying 750 e-buses across 11 cities in Andhra Pradesh. The company has joined forces with GreenCell Mobility, a leading electric bus mass mobility solution provider, to execute this order.

As per the understanding, the partners will deploy 129 units of 9-metre and 621 units of 12-metre electric buses across eleven cities – Amravati, Anantapur, Kadapa, Kakinada, Kurnool, Rajahmundry, Nellore, Guntur, Vijayawada, Vishakhapatnam and Tirupati.

This award comes after CESL’s issuance of the Letter of Confirmation of Quantity (LOCQ) and Rajasthan’s LOA for 675 electric buses announced last week, marking a major milestone in India’s e-mobility journey.

Dr Sudhir Mehta, Founder & Chairman, EKA Mobility & Pinnacle Industries, said, “We are proud to partner with the government of Andhra Pradesh and collaborate with GreenCell Mobility to deliver green, smart, and efficient transportation solutions for the people of the state. This partnership marks a significant step toward building smarter, more sustainable cities across India.”

Devndra Chawla, MD & CEO, GreenCell Mobility, added, "We are honoured to join hands with the government of Andhra Pradesh to support the state’s transition to sustainable public transport. This project is a major milestone in our mission to transform mass mobility through zero-emission electric buses. Together, we are enabling cleaner cities, generating green jobs, and building a more sustainable future for millions."

Also read: GreenCell mobility to deploy over 1,200 e-buses from CESL under Pm E-Bus Sewa Scheme

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Kinetic Engineering, a leading automotive supplier, has granted brand license to its subsidiary, Kinetic Watts and Volts, for using the Kinetic brand to enter the electric vehicle space.

Founded on 27 September 2022, Kinetic Watts and Volts is said finalising its EV product lineup, rollout strategy, partnerships and market entry plans.

Till date, Kinetic Engineering and other promoters have invested INR 428 million in the subsidiary with an additional INR 290 million to be infused soon, which takes the total investment to INR 718 million. This investment will give KEL an 80 percent stake in the subsidiary.

At present, Kinetic Engineering manufactures and supplies EV components, including gearboxes, axles and chassis. More recently, the Kinetic Group entered battery manufacturing through its ‘Range X’ brand, further expanding its offerings for the EV segment.

Under the agreement, Kinetic Watts and Volts will get non-exclusive rights to use the Kinetic brand and trademarks for its EV business for an initial three-year term.

Ajinkya Firodia, Vice-Chairman & Managing Director, Kinetic Engineering, said, “For over five decades, Kinetic has symbolised innovation and trust. As we embrace the electric era, we’re thrilled to see Kinetic Watts and Volts carry this legacy forward. This license is more than a business deal – it’s entrusting a storied heritage to a team dedicated to shaping mobility’s future. By blending our iconic brand with advanced electric technology, Kinetic Watts and Volts will deliver products that resonate with Indian consumers and set new EV benchmarks.”

At the end of the three-year term, Kinetic Engineering and Kinetic Watts and Volts will reassess the licensing terms to align with the group’s long-term goals, market trends and potential expansion into new categories or global markets.

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