Ather Energy bulk deal: Tiger Global Management exits firm, sells 5.09% stake; shares in focus

US-based Tiger Global Management, through its affiliate Internet Fund III Pte, offloaded a little over 1.93 crore equity shares, or 5.09% stake, in Ather Energy, as per the bulk deal data available on the BSE and National Stock Exchange (NSE).

The shares were sold at a price range of ₹620.45 to ₹623.56 apiece, resulting in a combined transaction value of ₹1,204.39 crore.

Details of the buyers of Ather Energy's shares could not be ascertained on the BSE and NSE.

At the end of the September quarter data, promoters held a 41.22% stake in the company compared to 42.09% in the June quarter.

Shares of Ather Energy declined 4.97% to close at ₹634 apiece on the NSE, while the scrip of the company ended 4.93% lower at ₹634.65 apiece on the BSE.

About Ather Energy

On May 6, 2025, shares of electric two-wheeler maker Ather Energy Ltd listed with a premium of over 2% against the issue price of ₹321.

The stock started the trade at ₹326.05, up 1.57% from the issue price on the BSE. Later, it climbed 3.70% to ₹332.90.

On the NSE, it listed at ₹328, a premium of 2.18%.

Ather Energy's initial public offering (IPO) was subscribed 1.43 times on the closing day of bidding, backed by oversubscription in the QIB and retail investor categories.

The ₹2,981 crore initial share sale had a price band of ₹304-₹321 apiece.

This was the first mainboard public issue of the current financial year (2025-26).

The initial public offering (IPO) was a combination of a fresh issue of equity shares worth ₹2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders.

This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its ₹6,145 crore IPO in August last year.

Ather Energy Targets 20% Market Share: CEO

In August 2025, Ather Energy co-founder and CEO Tarun Mehta said the automobile industry needs more hedging by way of roping in more countries and suppliers to avert issues like the restricted supply of rare earth elements and magnets faced by original equipment manufacturers recently.

Mehta said that the company in the near term was looking at a 20% market share.

The first product from the latest two-wheeler architecture is expected to be rolled out next year.

"I think it (the issue of restricted supply of rare earth magnets) is sorted out for now. But I think the better answer now is to move away from heavy rare earths to at least light rare earths, which is what we are trying to do at Ather. And the faster we get away, I think the better we will all be," Mehta told PTI in a post-launch interaction with PTI.

Eventually, the world is very volatile now, "and we need solutions...we need more hedging. We need to hedge different countries, we need to hedge different suppliers altogether", he said.

Rare earth metals and magnets are critical components used in electric vehicles and electronics.

In April, China, which dominates the supply of these vital minerals, restricted the supply, impacting the domestic automobile industry significantly.