Electric two-wheeler manufacturer Ather Energy is reportedly eyeing a valuation of $1.6 Bn for its much-awaited initial public offering (IPO).

According to a report by Bloomberg, the startup is eyeing a public listing within this month or April. A separate report by NDTV Profit said that the company is likely to file its updated draft red herring prospectus (DRHP) by next week.

Ather declined to comment on Inc42’s queries on the development.

This adds on to recent developments at Ather that indicate that the company is in the final stages of preparations to launch its public offering. A couple of days ago, it was reported that the unicorn .

Meanwhile, the aforementioned valuation which Ather is seeking is almost equivalent to last private valuation of $1.3 Bn. Ather by securing a funding of INR 600 Cr ($71 Mn) from NIIF at a post-money valuation of $1.3 Bn in August last year.

However, earlier in January, Ather was reported to be for its IPO.

Interestingly, Ola Electric also took a valuation cut when it went public in August 2024. The two-wheeler EV manufacturer listed at a valuation of $4 Bn, down about 26% from its last private valuation of $5.4 Bn. With the recent slump in its share price, Ola Electric’s market capitalisation has plunged to $2.6 Bn as of today.

It is pertinent to mention that with the Securities and Exchange Board of India (SEBI) to raise over INR 3,100 Cr a month after its last private fund raise.

As per the DRHP, the IPO will comprise a fresh issue of equity shares worth INR 3,100 Cr and an offer-for-sale (OFS) of up to 2.2 Cr equity shares.

The markets regulator in December last year.

While there have been much speculations over the company’s public listing, Ather’s two-wheeler sales have been on a steady uptick in recent times. In February, the IPO-bound company’s EV registrations, up slightly from 12,101 units in January.

[Editor’s Note: The story has been edited to update the valuation of Ather based on changes in the original Bloomberg report.]

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