Indian EV Startup Ather Energy Advances IPO Plan: BS

Indian manufacturer of two-wheel electric vehicles, Ather Energy, has advanced plans for an initial public offering (IPO), Business Standard reported on Monday.

The startup is targeting an annual revenue growth rate of $3 billion in two years and plans to go for an IPO after it turns profitable, the report said.

Ather has also reached a deal with its key investor, Hero MotoCorp, which has a 35% stake in the start-up, the report said, quoting the EV maker’s co-founder and chief executive officer Tarun Mehta.

Read the full report: Business Standard.

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.