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<ul><li><keyword id="19938729" type="General" weightage="20" keywordseo="ather-energy" source="keywords">Ather Energy</keyword> has filed draft papers for a ₹3,100 crore IPO with SEBI.</li><li>Ola Electric had raised ₹5,500 crore in its IPO in August.</li><li>Ather Energy plans to set up a new manufacturing facility in Maharashtra.</li></ul>Electric two-wheeler manufacturer Ather Energy has announced that it is going public and raising ₹3,100 crore in its initial public offering (IPO). The Tarun Mehta-led company has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI). The proposed IPO includes a fresh issue of shares worth ₹3,100 crore and an offer for sale (OFS) component of 2.2 crore shares by promoters and investors. <keyword id="20253467" type="General" weightage="20" keywordseo="tarun-mehta" source="keywords">Tarun Mehta</keyword> and <keyword id="19993824" type="General" weightage="20" keywordseo="swapnil-jain" source="keywords">Swapnil Jain</keyword> will offload 10 lakh shares each. Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, Internet Fund III Pte Ltd and 3State Ventures Pte. Ltd are among the investors selling their shares. <div type="Article" hostid="261" msid="109128809" title="Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment" mstype="2" mssubtype="0"></div> Ather Energy’s IPO is nearly half of what its rival Ola Electric raised through its <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms">IPO</a> last month. This will make Ather Energy the second electric two-wheeler maker in India to go public. Ather Energy is backed by Hero MotoCorp, which has a 37.2% stake in the EV maker. Hero MotoCorp will not sell its shares in the IPO. Apart from Hero MotoCorp, Flipkart co-founders Sachin Bansal and Binny Bansal have also invested in Ather Energy. The EV maker will use the funds raised in the IPO to establish a manufacturing facility in Maharashtra and invest in research and development. The proposed manufacturing facility in Maharashtra will come up in Chattrapati Sambhaji Nagar district. The company currently has a manufacturing facility at Hosur, Tamil Nadu. Ather Energy sells four electric scooters: the 450S, 450X, 450 Apex and the recently launched <a href="https://www.businessinsider.in/business/auto/news/ather-rizta-electric-scooter-launched-in-india-starting-at-rs-109999/articleshow/109128809.cms">Rizta</a>, a family scooter. The company also sells products like the Halo smart helmet and other scooter accessories. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a> <a href="https://www.businessinsider.in/stock-market/news/shree-tirupati-balajee-agro-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113196203.cms">Shree Tirupati Balajee Agro IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI

<ul><li>Ather Energy has launched the Rizta, the company’s first family electric scooter.</li><li>The <keyword id="20264587" type="General" weightage="100" keywordseo="Ather-Rizta" source="Orion">Ather Rizta</keyword> is priced starting at ₹1,09,999 and is available in three variants.</li><li>The company also launched the <keyword id="21234259" type="General" weightage="20" keywordseo="ather-halo" source="Orion">Ather Halo</keyword>, its smart helmet at the event.</li></ul> Ather Energy launched its latest electric scooter, the Rizta in India on Saturday at its Community Day 2024 event. The Ather Rizta is a family scooter, featuring a traditional scooter design with a modern touch. The company, which is backed by Indian two-wheeler giant Hero MotoCorp has jumped into the family scooter segment with the launch of the Rizta, after selling its performance-oriented Ather 450X for several years now. Rizta, which has been dubbed as the “scooter for the entire family” has been launched in two models – <keyword id="21234257" type="General" weightage="20" keywordseo="Rizta-S" source="keywords">Rizta S</keyword> and <keyword id="21234258" type="General" weightage="20" keywordseo="Rizta-Z" source="keywords">Rizta Z</keyword>. It will be available in three variants – Rizta S, Rizta Z 2.9kWh and Rizta Z 3.7kWh. “We entered the two-wheeler market with our performance scooter, the 450 series, which was recognised in the industry. Now, we are setting foot in the family segment with the Rizta, which has been designed and engineered with the Indian family in mind,” said Tarun Mehta, co-founder and chief executive officer, Ather Energy. <cmsannotation type="cmsannotation" annotationid="Ather Rizta price and variants" comment="subhead" text="Ather Rizta price and variants"><keyword id="20844878" type="General" weightage="20" keywordseo="Ather-Rizta-price" source="Orion">Ather Rizta price</keyword> and variants</cmsannotation> The Ather Rizta has been priced at ₹1,09,999 (ex-showroom, Bengaluru) for the Rizta S, ₹1,24,999 for the Rizta Z 2.9kWh and ₹1,44,999 for the Rizta Z 3.7kWh. <cmsannotation type="cmsannotation" annotationid="Ather Rizta specifications" comment="subhead" text="Ather Rizta specifications">Ather Rizta specifications</cmsannotation> The Ather Rizta will be equipped with the company’s upcoming software, the AtherStack 6, which the company says is more user-friendly and fluid. It features an all-new design, which is aimed at giving it a more traditional look. The Ather Rizta features a large 900 mm seat, which the company claims is the largest in the segment. For comparison, the Ather 450X features a 780 mm seat. Due to the large seat, the electric scooter also gets a large boot offering 34L of storage capacity. In addition to this, users can equip a frunk at the front to gain an additional 22L storage capacity. The Ather Rizta S and the Rizta Z 2.9kWh variants are both equipped with a 2.9kWh battery pack and come with an IDC-certified range of 123 km. On the other hand, the top variant of the Rizta Z is equipped with a 3.7kWh battery pack and comes with a 160 km IDC range. Another significant change from the Ather 450X is that the Rizta offers just two driving modes – SmartEco and Zip. It also comes with a top speed of 80km per hour. The Rizta Z comes with features such as reverse mode, magic twist, coasting regen, and the new SkidControl technology, which is a traction control feature aimed at offering a better grip on the road. <cmsannotation type="cmsannotation" annotationid="Ather Halo" comment="subhead" text="Ather Halo">Ather Halo</cmsannotation> Ather Energy also launched the Halo smart helmet at the event. The Ather Halo is a premium helmet equipped with Harman Kardon speakers. It allows the rider to listen to music and answer calls, without having to take out their smartphone. If you own an Ather scooter, you can control the music and calls using the scooter itself. The Ather Halo offers a battery life of up to 1 week and comes with wireless charging support. The Ather Halo is a full-face helmet and comes with a price tag of ₹14,999. For an introductory period, it will be available for ₹12,999. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheeler-industry-records-highest-ever-monthly-sales-as-fame-subsidy-ends/articleshow/109030516.cms">India’s electric two-wheeler industry records highest-ever monthly sales as FAME subsidy ends</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-retakes-the-second-spot-from-tata-motors-records-its-highest-ever-sales/articleshow/108962655.cms">Hyundai retakes the second spot from Tata Motors, records its highest-ever sales</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-april-2024/slidelist/108869757.cms">Upcoming cars and two-wheelers launching in India in April 2024</a>

Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment

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Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI

Sourabh Jain

Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment

Sourabh Jain

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