Tiger Global Offloads Entire Stake In Ather Energy For INR 1,204 Cr

Ather Energy’s early backer Tiger Global sold its entire 5.09% stake in the EV company for INR 1,204 Cr via bulk deals.

The investor sold 1.01 Cr shares of Ather Energy at a price of INR 623.56 apiece on the NSE via a block deal yesterday. It offloaded the remaining 92.35 Lakh shares on the BSE in another block deal at a price of INR 620.45 apiece.

The total amount of the two transactions stood at INR 1,204 Cr.

As per Ather Energy’s shareholding pattern for the September quarter, Tiger Global held 1.93 Cr equity shares of the company, via its Internet Fund III.

Notably, Tiger Global first invested $12 Mn in Ather Energy in 2015. It sold 4 Lakh shares via the offer-for-sale (OFS) component in Ather Energy’s OFS for INR 12.84 Cr earlier this year, marking 8.3X return on its investment.

Besides, investors like IIT Madras, NIIF, and Caladium Investment also offloaded their shares via the OFS.

In the June quarter of the ongoing fiscal year, Tiger Global also reduced its stake in Ather Energy’s rival Ola Electric by 0.21%. In September, the investor sold Urban Company’s shares worth INR 329.7 Cr in a pre-IPO transaction.

The latest development comes at a time when Ather Energy’s sales are on an upward curve. It surpassed Ola Electric in terms of number of EV registrations last month. As per the Vahan data, the company recorded a 46% jump in its E2W registrations in the month of October, clocking 26,713 registrations compared to 18,295 in September.

On the financial front, Ather Energy managed to trim its net loss for the first quarter of the ongoing fiscal (Q1 FY26) by 3% to INR 178.2 Cr from INR 182.9 Cr in the same quarter last year. Revenue from operations zoomed over 79% to INR 644.6 Cr from the INR 360.5 Cr earlier.

The company is scheduled to release its Q2 financial numbers on November 10 (Monday). Shares of the company were trading 3.65% higher at INR 657.80 on the BSE at 15:15 IST.

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