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Indian EV Maker Ather Is Said to Weigh IPO at $1.2 Billion Value

Ather Energy Pvt., an Indian electric-scooter maker backed by Hero MotoCorp Ltd., may pursue its planned initial public offering in Mumbai at about $1.2 billion valuation, according to people familiar with the matter.



Ather Energy, an Indian electric scooter maker backed by Hero MotoCorp, is considering an IPO in Mumbai at a valuation of approximately $1.2 billion, potentially raising $400 million. The company aims to sell shares by late March or early April, though details are subject to change. Hero MotoCorp will not participate in the share sale. This comes amid cooling demand for electric scooters in India and after Ola's share value declined significantly since its peak in August.

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