Two-wheeler electric vehicle (EV) startup Ather Energy is planning to go for an IPO within 24 months, advancing its earlier plan to do it in four to five years. The company is targeting an annual revenue run rate of $3 billion in two years and also expects to be the first EV startup to break the mould globally by going for an IPO backed by EBIDTA positive financials.
Ather has an agreement with its key investor, Hero MotoCorp, which has a 35 per cent stake in the startup. The latter is treading its own independent path for two-wheeler EVs and is set to launch its own products next year. Under the agreement, there will be no restriction based on segment,