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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YANGWANG, BYD's flagship luxury new-energy vehicle marque, staged a high-profile celebration in Dubai to honour the U9 Xtreme's 503.17 kmph world-record top speed, headlined by a bespoke light and projection spectacle across the Burj Khalifa. The showcase drew an estimated 3,000 international media figures and VIP guests, assembling a global audience to mark advances in automotive performance, technological innovation and brand growth.

The record was set on 1 November 2026, when the all-electric hypercar hit 503.17 kmph (312.6 mph) along Sheikh Khalifa Bin Zayed International Road (E11) in Abu Dhabi's Al Dhafra Region. Two Guinness World Records followed: highest speed achieved by a production car in a single-direction run, and the equivalent honour for an electric production car. Motorsport's governing body, the FIA, has likewise acknowledged the result. Racing driver Marc Basseng piloted the machine past its own earlier 496.22 kmph (308.3mph) marker, posted at ATP Papenburg in Germany in September 2025.

That display anchored the evening, projecting the milestone onto one of the planet's most photographed structures, while supporting brand activities allowed attendees to explore YANGWANG and the engineering underpinning its record-setting model. The U9 Xtreme, in the brand's view, embodies an ongoing push to test how far new-energy technology can stretch automotive limits.

The same evening saw the World Branding Awards trophy presented to BYD Executive Vice President Stella Li, following BYD's selection as Brand of the Year in the Automobiles category at Global Tier. The World Branding Forum, which runs the programme, weighs brand valuation, consumer market research and public online voting, with Global Tier status reserved for international brands active in at least 10 countries across three or more continents; the honour was first conferred at Hampton Court Palace in London on 3 November. The Dubai gathering sat within a broader UAE celebration programme that included a 110-vehicle parade of YANGWANG, DENZA and BYD models in Abu Dhabi on 7 November, led by the U9 Xtreme from West Park to Emirates Palace.

Stella Li, Executive Vice President, BYD, said, “Reaching 503.17 kmph with the U9 Xtreme demonstrates what electric performance can achieve and reflects our engineers’ determination to push beyond established boundaries. At the same time, being named Global Brand of the Year in Automobiles is also a recognition of the trust our customers place in BYD. These achievements inspire us to keep exploring what technology can make possible, from extraordinary performance to sustainable mobility that makes a meaningful difference in people’s everyday lives.”

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Delhivery has signed Memoranda of Understanding (MoUs) with Tata Motors, Euler Motors and Montra Electric to deploy between 1,500 and 2,000 electric four-wheelers across its intra-city logistics network over the next 12 to 18 months. The agreements form part of the company's plan to deploy nearly 5,000 electric vehicles within three years and fully electrify its intra-city fleet operating under 200 kilometres per day within four to five years, starting with a rollout in Delhi-NCR.

At present, electric vehicles account for 12 to 13 percent of Delhivery's intra-city fleet. Through advance payments for vendors and investments in charging and parking facilities at its hubs, the company plans to increase that share beyond 50 percent over the next two to three years.

Under the partnerships, Delhivery will induct the Tata Intra EV from Tata Motors, begin deployments with the Turbo City Plus from Euler Motors before adding payload-capacity models and expand nationwide operations of Montra Electric's EVIATOR across its network.

Prashant Gazipur, COO – In City Operations, Delhivery, said, “Scaling fleet electrification means finding solutions that work across the diverse needs of our network without compromising operational efficiency. Partnering with Tata Motors, Euler Motors and Montra Electric lets us expand our electric fleet across vehicle categories. The charging facilities we are piloting will make EV adoption easier and more affordable for our vendor partners.”

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GreenLine Mobility Solutions, an Essar Group venture, has entered into a partnership with Kirloskar Ferrous Industries to deploy electric trucks for the manufacturer's logistics operations.

The initiative began with the flag-off of electric trucks at Kirloskar Ferrous' facility in Taloja, Navi Mumbai, integrating electric transport into the company's goods movement.

At present, GreenLine operates a fleet of more than 1,200 liquefied natural gas and electric trucks across freight corridors in India, serving sectors including steel, cement, mining, fast-moving consumer goods and chemicals. The fleet has recorded over 100 million kilometres of operations, reducing carbon dioxide emissions by more than 30,000 tonnes for its clients.

Madhur Taneja, CEO, GreenLine Mobility Solutions, said, “At GreenLine, we are focused on advancing lower-emission freight transportation through solutions suited to different logistics requirements. LNG continues to play an important role in our approach to decarbonising long-haul transportation, while electric trucks offer opportunities in applications suited to electric mobility. Our partnership with Kirloskar Ferrous marks a further step in expanding our electric truck deployments and working with businesses to integrate cleaner transportation solutions into their supply chains.”

“Electrifying inter-plant logistics is where sustainability meets operational excellence, driving higher efficiency, lower costs and a cleaner future” said the Kirloskar Ferrous Industries leadership team.

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Noida-headquartered fuel-tech startup Nawgati has been selected among the top 10 finalists from over 11,000 applicants for the UAE-India Startup Series 2.0, organised by the UAE-India CEPA Council. The selection qualifies the company to present at the Final Pitch Event in Bengaluru on 17 and 18 November 2026.

Founded in 2019 by Vaibhav Kaushik, Aalaap Nair and Aryan Sisodia, Nawgati operates an artificial intelligence (AI) and Internet of Things (IoT) platform for fuel retail and gas companies, dealers and government agencies.

Its on-site controllers connect fuel dispensers, cameras and billing systems to detect safety risks, procedure breaches and non-compliant vehicles, enabling operators to intervene in operations across stations in India.

Vaibhav Kaushik, Co-Founder and CEO, Nawgati, said, “We are honoured to be selected among the top 10 from over 11,000 applicants for the UAE-India Startup Series 2.0, and we thank the UAE-India CEPA Council for this recognition. We have built Nawgati for the person in the driver’s seat. When a station runs smoothly, drivers spend less time stuck in queues, find fuel more reliably, and get clear, real-time information before they even reach the pump. Seeing that difference across India is what motivates us most. We look forward to taking this experience to more drivers and more stations.”

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