 "Tiger Global offloads entire 5.09% Ather Energy stake for ₹1,204 crore")
United States (US) Investment firm Tiger Global Management has sold its entire 5.09 per cent stake in electric-two-wheeler maker Ather Energy via open-market transactions, generating roughly ₹1,204 crore.
Acting through its affiliate Internet Fund III Pte Ltd, Tiger Global divested its holdings in Ather Energy, selling a little over 19.3 million equity shares. The shares changed hands at prices ranging from ₹620.45 to ₹623.56 apiece, according to exchange filings.
The sale comes just months after Ather’s April initial public offering (IPO), which raised roughly ₹2,900 crore and valued the Bengaluru-based company at about ₹12,000 crore.
As of November 7, Ather’s market capitalisation has nearly doubled to around ₹24,800 crore, reflecting renewed investor interest in India’s fast-growing electric-mobility sector even as early backers such as Tiger Global cash out.
Founded in 2013 by IIT Madras alumni Tarun Mehta and Swapnil Jain, Ather Energy counts Hero MotoCorp and Singapore’s GIC among its major shareholders. Before Tiger Global’s exit, Flipkart co-founder Sachin Bansal, an early investor, had also pared down his stake as part of a broader reshuffling among Ather’s early backers.
India’s electric two-wheeler sales surged in October on festive demand, with Bajaj Auto overtaking TVS Motor to lead the market. The Vahan data shows Bajaj sold 29,597 units for a 21.9 per cent share, narrowly ahead of TVS’s 28,008 units and 20.7 per cent share.
Overall EV registrations topped 204,000, up 11 per cent from September. Ather Energy logged its best month with 26,713 units (19.6 per cent share), while Ola Electric slipped further to fourth with 15,481 units (11.6 per cent share).
Ather Energy narrowed its losses to ₹178 crore for the first quarter of 2025-26 (Q1FY26) from ₹183 crore in the corresponding quarter last year, whereas revenue from operations surged by 79 per cent year-on-year to ₹645 crore from ₹360 crore.
The company attributed the improvement to a shift towards more premium products in its portfolio, favourable commodity costs, particularly battery cells, and its continued focus on value engineering driven by research and development.
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