Ather Energy has secured board approval to raise up to ₹2,500 crore through a mix of qualified institutional placements (QIPs) and other equity-linked instruments, a year after the Bengaluru-based electric two-wheeler maker raised ₹2,981 crore through its initial public offering (IPO).

In a regulatory filing late on Friday, the company said it plans to raise up to ₹1,500 crore through one or more tranches of QIPs. It may raise an additional ₹1,000 crore through equity shares, foreign currency convertible bonds (FCCBs), preferential allotments, rights issues, or other eligible securities. The board has also constituted a fund-raise committee to oversee the capital raising exercise.

The proposed fundraising comes weeks after rival Ola Electric raised ₹780 crore through a QIP, drawing participation from investors including Motilal Oswal Mutual Fund, Invesco, and SBI Mutual Fund.

The fundraising also comes at a time when Ather is preparing to operationalise the first phase of its Factory 3.0 in Chhatrapati Sambhajinagar, Maharashtra. The facility, which will be the company’s largest manufacturing plant, will have an annual capacity of one million units at full scale. The first phase, with a capacity of 500,000 units, is expected to be commissioned by the end of the current calendar year.

Shares of Ather Energy ended flat at ₹1,028 on the NSE on Friday. The stock touched a 52-week high of ₹1,069 earlier this week and has gained around 70% over the past six months, aided by rising market share in the electric two-wheeler segment and improving EV adoption.

Ather sold 28,211 vehicles in May, nearly double the year-ago period, capturing a 17% market share. It was Ather’s second-best monthly sales performance after March 2026, when it sold 36,333 units. May also marked the seventh time the company crossed the 20,000-unit monthly sales mark, driven largely by demand for its family-focused Rizta scooter.