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Tarun Mehta, co-founder and CEO of Ather Energy, recently highlighted a surprising perspective on the company’s transition from a private startup to a publicly listed firm. Reflecting on Ather’s IPO success in 2025, Mehta stated that being a public company has contributed to reduced stress levels compared to the challenges faced as a private venture. His remarks offer a candid window into the evolving dynamics of startup growth, governance, and investor relations in India’s burgeoning electric vehicle (EV) ecosystem.
Key Highlights: Ather Energy’s Journey to Public Markets
Ather Energy went public in May 2025 with a much-anticipated IPO that raised approximately ₹2,626 crore through a fresh issue and an offer for sale of ₹354 crore.
The IPO was priced between ₹304 to ₹321 per share and witnessed a moderate oversubscription at 1.43 times, reflecting growing investor confidence in Ather’s potential.
Since listing on NSE and BSE, Ather’s shares have shown resilience amid the competitive EV sector, propelled by strong brand recognition and innovation leadership.
The public listing marked a pivotal milestone, enhancing Ather’s ability to access capital, scale operations, and invest in technology and manufacturing expansion.
Insights from Tarun Mehta: Why Public Status Reduces Stress
Mehta explained that as a private company, the team faced constant pressure related to fundraising, investor management, and scalability uncertainty.
Being public introduced greater transparency, structured governance, and predictable compliance, which helped in focusing more on core business rather than dealing with opaque investor demands.
The broader base of shareholders and regulatory oversight brings discipline, while instilling confidence and long-term perspective in decision-making.
Mehta noted that public market feedback mechanisms—such as share price movements and analyst reports—provide real-time insights, enabling quicker course corrections and strategic clarity.
The process also democratizes ownership, attracts institutional investments, and strengthens Ather’s image in the competitive EV marketplace.
Ather Energy’s Growth and Strategic Vision
Founded in 2013, Ather Energy is a pioneer in premium electric two-wheelers, known for products like the Ather 450 and Ather 450X, combining sleek design, smart technology, and proprietary charging infrastructure.
With over 100,000 vehicles sold in FY2024 and an expanding network of experience centers, Ather aims to broaden India’s EV adoption and reduce carbon footprint sustainably.
Post-IPO, capital inflows support Ather’s plans to ramp up manufacturing capacity in Tamil Nadu and Maharashtra, diversify product lineups, and deepen digital ecosystem services.
The company targets a pan-India footprint with a focus on urban mobility solutions catering to environmentally conscious consumers.
Investor and Market Reception
Public investors have shown growing enthusiasm for Ather’s innovation-driven approach and potential to capitalize on India’s aggressive EV transition roadmap.
Analysts see Ather poised for leadership in the EV two-wheeler segment, with strong brand equity, technology moats, and improved earnings visibility post-listing.
Market volatility is seen as an opportunity for disciplined investors to participate in India’s clean mobility revolution with a well-positioned company.
Challenges Ahead and Leadership Focus
Despite the optimism, Mehta acknowledges continuing challenges such as growing competition from legacy manufacturers, supply chain volatility, and the need for continuous innovation.
The company emphasizes R&D investment, quality control, and customer experience to retain competitive advantage.
Public scrutiny and investor expectations keep management accountable but also sharpen operational efficiencies and strategic vision.
Conclusion
Tarun Mehta’s reflections on Ather Energy’s IPO journey illuminate the evolving nature of entrepreneurial stress—from the opaque uncertainties of private startups to the disciplined transparency of public markets. By embracing public ownership, Ather has gained stability, capital access, and strategic resilience, fueling its mission to drive India’s path toward sustainable electric mobility.
Sources: InvestorGain, Groww.in, Business Standard, India Today
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