Ather Energy shares rise over 3.5%: Morgan Stanley, Goldman Sachs, and others buy 1.92% stake for ₹521 crore

These entities bought stakes in Ather Energy from the National Investment and Infrastructure Fund for nearly ₹521 crore through open market transactions.

ICICI Prudential Mutual Fund (MF), Tata MF, Invesco MF, Motilal Oswal MF, Aditya Birla Sun Life MF, WhiteOak Capital MF, and Tata AIG Life Insurance Company Ltd also bought shares of electric two-wheeler maker Ather Energy, as per the block deal data available on the BSE and NSE.

These entities purchased a total of 73,33,219 shares on NSE and BSE, representing a combined 1.92% stake in Bengaluru-based Ather Energy.

The shares were acquired at an average price of ₹710 per share, bringing the combined deal value to ₹520.66 crore.

Meanwhile, the National Investment and Infrastructure Fund (NIIF), through its affiliate National Investment and Infrastructure Fund-II, offloaded the same number of shares at the same price.

Mumbai-based National Investment and Infrastructure Fund Ltd (NIIF) is a sovereign-linked alternative asset manager, anchored by the Government of India.

At the December quarter end, NIIF held a 1.92% stake in Ather Energy.

After the share sale, the NIIF has exited Ather Energy by selling its entire stake.

Ather Energy Q3 Results

Electric two-wheeler maker Ather Energy reported a narrowing of the net loss to ₹85 crore for the third quarter ended December 31, 2025.

The company reported a net loss of ₹198 crore in the October-December quarter of the previous fiscal.

Total income increased to ₹996 crore for the third quarter as against ₹650 crore in the year-ago period, Ather Energy said in a regulatory filing.

The company said it recorded its highest-ever quarterly volumes of 67,851 units, delivering 50% year-on-year growth, it added.

Ather said its losses continued to shrink, with EBITDA loss down to ₹29.9 crore, and the quarterly loss narrowing by 45% as compared to Q2 FY26, underscoring steady progress toward profitable, sustainable growth.

This improvement was driven by structural levers built over the past year, now translating into strong operating leverage and positioning the business to navigate near-term margin volatility, it added.

"Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far," Ather Energy Executive Director & CEO Tarun Mehta stated.

Over the past few quarters, the company has stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA, Mehta added.

About Ather Energy

Ather Energy Limited is an India-based pure-play electric vehicle (EV) company. The company specialises in the Indian electric two-wheeler (E2W) market.

The company sells E2Ws and the associated product ecosystem, comprised of its software, charging infrastructure, and smart accessories, all of which are conceptualised and designed by it in India.

Its E2W portfolio comprises two product lines: the Ather 450 line, which caters to customers seeking performance scooters, and the Ather Rizta line, which is targeted at customers seeking convenience scooters for their family.

The company’s software, Atherstack, is developed in-house and powers all Ather products.

Atherstack offers approximately 69 features related to navigation, analytics, ride assistance, safety, and productivity, as well as integration with its charging infrastructure and smart accessories.

Upon purchase of an E2W, its customers have the option to purchase advanced Atherstack software features through the Atherstack Pro.