Ather Energy, a leading EV maker, is preparing for an IPO with a $2.4 billion valuation, an 80% leap from its unicorn funding round.

Ather Energy plans to file its updated draft red herring prospectus (DRHP) by February after addressing SEBI clarifications.

Nikhil Kamath, Zerodha cofounder, could earn 150% returns on his Ather stake, now worth $100M, just six months post-investment.

Hero MotoCorp, holding 37% of Ather Energy, won't sell shares in the IPO, maintaining its position as co-promoter.

Gujarat market share for Ather surged from 5% in July to 25% in December, driven by product launches and new service centers.

Ather targets EV leadership with its 450 series and Rizta family scooter, supported by investors like Hero MotoCorp and GIC. Source The Economic Times