Ather Energy‘s board will meet on Friday to consider and approve a fundraising proposal, marking the Bengaluru-based EV maker’s first external capital raise since its initial public offering (IPO) in May 2025. The company did not disclose the size of the proposed fundraise, saying the board would determine the structure and quantum of the capital raise.

In a stock exchange filing, the company said its board of directors will consider raising funds through the issuance of equity shares, foreign currency convertible bonds (FCCBs), non-convertible debentures (NCDs), warrants, or other eligible securities convertible into equity shares.

The proposed fundraising may be undertaken through a public issue, rights issue, private placement, qualified institutional placement (QIP), preferential issue, or a combination of these routes, subject to regulatory and shareholder approvals. The company did not disclose the size of the proposed fundraise, saying the board would determine the structure and quantum of the capital raise.

The fundraising comes as Ather Energy prepares to operationalise Phase 1 of its Factory 3.0 in Chhatrapati Sambhajinagar, Maharashtra. The facility, the company’s largest manufacturing plant, will have an annual capacity of 10 lakh units at full scale. Ather expects to commission the first phase, with a capacity of 5 lakh units, by the end of the current calendar year.

Exactly a year ago, Ather raised ₹2,981 crore through a combination of a fresh issue and an offer for sale in its IPO. The company’s shares touched a 52-week high of ₹1,068.80 on Monday following the fundraising proposal. Ather had made a muted market debut, listing at ₹326.05 on the BSE, a premium of 1.57% over its issue price.

Ather Energy’s stock has gained around 70% over the past six months, supported by rising market share in the electric two-wheeler segment and improving EV adoption. The company sold 28,211 vehicles in May, nearly doubling sales from a year earlier and capturing a 17% market share.

It was Ather’s second-best monthly performance after March 2026, when it sold 36,333 units, and marked the seventh time it crossed the 20,000-unit mark in a month, driven largely by demand for its family-focused Rizta scooters.