Electric two-wheeler maker Ather Energy has approved a proposal to raise up to Rs 2,500 crore through a mix of qualified institutional placement (QIP), preferential allotment, rights issue, foreign currency convertible bonds (FCCBs), and other eligible securities, according to a stock exchange filing.

The company's board approved raising up to Rs 1,500 crore through a QIP of equity shares in one or more tranches. It also cleared an additional fundraise of up to Rs 1,000 crore through equity shares, FCCBs, or other convertible securities via permissible routes including preferential allotment and rights issue.

To manage the process, Ather has constituted a Fund Raise Committee that will oversee matters related to the proposed capital raise. The company will seek shareholder approval for the QIP portion through a postal ballot, details of which will be shared separately.

Notably, the Bengaluru-based company has kept multiple fundraising avenues open, providing flexibility to tap both domestic and international investors depending on market conditions. Details regarding pricing, investors, and issuance timelines will be determined at a later stage.

The fundraising plan comes amid improving financial performance. In the fourth quarter of FY26, Ather's operating revenue grew 74% year-on-year to Rs 1,175 crore from Rs 676 crore in the year-ago period, while its net loss narrowed 57% to Rs 100 crore. The company benefited from higher electric two-wheeler sales, with revenue growth outpacing the increase in expenses.

Ather's fundraising plan follows a similar move by rival Ola Electric, which earlier this month raised Rs 780 crore through a Qualified Institutional Placement (QIP). The issue was oversubscribed by 56% against its initial target of Rs 500 crore.

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