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Tiger Global sells entire Ather Energy stake for Rs 1,204 Cr

EntrackrEntrackr · 10d ago
Tiger Global sells entire Ather Energy stake for Rs 1,204 Cr
Medial

Tiger Global (Internet Fund III Pte Ltd), has sold all of its shares representing 5% of the electric two-wheeler maker Ather Energy’s total paid-up capital through open market transactions on November 6, 2025. The company sold 1 crore shares on NSE at an average price of Rs 623.56 per share and the rest 93 lakh shares on BSE at an average price of 620.45 per share. Both sales aggregate to a total sum of Rs 1,204 crore. As of September 30, Internet Fund owned 1.93 crore shares of Ather Energy, forming a total of 5% of Ather Energy's total captable. The company also witnessed bulk deals from IRAGE BROKING SERVICES LLP, which bought 22 lakh Ather Energy’s shares worth Rs 137 crore at an average price of Rs 622.26 per share while selling 2 lakh shares worth Rs 14.5 crore for price stabilization. In terms of EV sales, Ather Energy retained its third position in October, rebounding from flat growth in September to post a robust 53% increase with 28,061 registrations, capturing a strong 19.53% market share. The company also surpassed its competitor Ola Electric in terms of market capitalization. The exit comes just before the company’s financial results for the second quarter of the ongoing financial year (FY26), which is scheduled for 10th November. For the first quarter, the company’s revenue from operations increased by 79% to Rs 645 crore in Q1 FY26, from Rs 360 crore in Q1 FY25. The company’s net losses reduced by 3% to Rs 178 crore in Q1 FY26 from Rs 183 crore in Q1 FY25. Ather Energy’s stock is currently trading at Rs 634 (as of 10:50 AM), bringing its total market capitalization to Rs 24,168 crore ($2.7 billion). It’s worth noting that Tiger Global also trimmed its stake in Ola Electric, a competitor to Ather Energy, in May this year.

Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue

EntrackrEntrackr · 6m ago
Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue
Medial

Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue Electric two-wheeler maker Ather Energy has filed its Red Herring Prospectus (RHP) with market regulator SEBI for its proposed Initial Public Offering (IPO). The offer comprises a fresh issue of equity shares worth Rs 2,626 crore and an Offer for Sale (OFS) of up to 1.1 crore equity shares by existing shareholders, including the company’s founders and early investors. Promoters Tarun Mehta and Swapnil Jain will each offload up to 9.8 lakh shares. Other selling shareholders in the OFS include Tiger Global, Caladium Investment (GIC), National Investment and Infrastructure Fund II, and seed investors such as IITM Incubation Cell and IITMS Rural Technology. The company has appointed Axis Capital, HSBC, JM Financial, and Nomura as the Book Running Lead Managers. The issue is being launched under Regulation 6(2) of SEBI's ICDR regulations, as Ather does not meet the profitability norms required for a mainboard listing under Regulation 6(1). Founded in 2013, Ather sells high-performance electric scooters, including the popular 450X. The IPO represents a pivotal moment for India’s electric vehicle (EV) sector and could bolster investor confidence in clean mobility ventures. The issue opens on April 28, 2025, and closes on April 30, 2025, with the anchor book opening on April 25. Shares will be listed on both BSE and NSE, with NSE serving as the designated stock exchange. According to the RHP, Hero MotoCorp is the largest shareholder in Ather Energy, holding 38.19% of the company. It is followed by Caladium Investment (GIC) with a 15.43% stake. The National Investment and Infrastructure Fund (NIIF) and Tiger Global hold 14.22% and 6.56%, respectively. Ather’s co-founders, Mehta and Jain, each hold 6.81%. Despite being Ather’s debut on public markets, the company has flagged the inherent risks associated with new listings in its RHP. Proceeds from the fresh issue will be used for business expansion, product development, and debt reduction. Meanwhile, Ola Electric, the first EV startup to go public, has witnessed a sharp decline, losing nearly 66% of its market capitalization from its peak valuation. In the first nine months of FY25, the company sold 1,08,000 vehicles, generating revenue of Rs 1,578.9 crore. However, it posted a loss of Rs 579.6 crore during the same period. For the full fiscal year ending March 2024, the company reported revenue of Rs 1,753 crore with a loss of Rs 1062 crore.

QRG Investments offloads Awfis’ shares worth Rs 141 Cr

EntrackrEntrackr · 1m ago
QRG Investments offloads Awfis’ shares worth Rs 141 Cr
Medial

QRG Investments offloads Awfis’ shares worth Rs 141 Cr QRG Investment has sold its 82% stake in co-working solutions firm Awfis through a bulk deal. The investor has offloaded its 24,07,800 shares at Rs 585.14 per share for Rs 140.9 crore. According to a corporate disclosure on the National Stock Exchange (NSE), the investor has offloaded its 24,07,800 shares at Rs 585.14 per share for Rs 140.9 crore. Prior to this, QRG had offloaded 3,67,408 Awfis’ shares last month, aggregating to Rs 22 crore, taking its total disinvestment to 94% of its overall stake in the company. As of March 2025, QRG Investments owned 29,39,074 shares of Awfis, forming a total of 4.11% of Awfis' total captable. QRG Investments and Holdings Limited, the promoter holding arm of QRG Group, operates as a mid-tier NBFC. On the other hand, HSBC MUTUAL FUND picked up 9,18,300 shares of Awfis at a price of Rs 585 per share, which totaled to Rs 53.72 crore in a bulk deal. Earlier this month, VBAP Holdings Private Limited also sold its 23.6% stake in Awfis through a bulk deal for Rs 56.8 crore. Awfis’ revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year. The company’s profit surged 3.5X to Rs 10 crore in Q1 FY26, from Rs 2.8 crore in Q1 FY25 in the same period. Awfis’ stock is trading at Rs 577 with a total market capitalization of Rs 4,126 crore.

Ather raises Rs 1,340 Cr from anchor investors ahead of listing

EntrackrEntrackr · 6m ago
Ather raises Rs 1,340 Cr from anchor investors ahead of listing
Medial

Ather raises Rs 1,340 Cr from anchor investors ahead of listing Electric two-wheeler maker Ather Energy has allocated shares worth Rs 1,340 crore (around $157 million) to anchor investors ahead of its initial public offering (IPO). The board at Unicommerce has passed a resolution to offer 4,17,45,576 equity shares at an issue price of Rs 321 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange (BSE) shows. SBI, Abu Dhabi Investment Authority (ADIA), Invesco, Franklin Templeton, ICICI Prudential, Morgan Stanley, and Societe Generale are some key anchor investors for Ather. Out of the total issue, 49.6% of the total allocation was made to 7 domestic mutual funds through 14 schemes, the filing further added. Ather Energy initiated its public offering from (28th - 30th April) at a price band of (Rs 304-321) with a minimum bid quantity of 46 equity shares. Before the anchor round, Hero MotoCorp is the largest shareholder in Ather Energy, holding 38.19% of the company. It is followed by Caladium Investment (GIC) with a 15.43% stake. The National Investment and Infrastructure Fund (NIIF) and Tiger Global hold 14.22% and 6.56%, respectively. Ather’s co-founders, Mehta and Jain, each hold 6.81%. According to Entrackr’s estimates, Ather valued itself at $1.44 billion in its initial public offering. In the first nine months of FY25, the company sold 1,08,000 vehicles, generating revenue of Rs 1,578.9 crore. However, it posted a loss of Rs 579.6 crore during the same period. For the full fiscal year ending March 2024, the company reported revenue of Rs 1,753 crore with a loss of Rs 1,062 crore.

VBAP Holding sells Awfis’ shares worth Rs 57 Cr

EntrackrEntrackr · 1m ago
VBAP Holding sells Awfis’ shares worth Rs 57 Cr
Medial

VBAP Holdings Private Limited sold its 23.6% stake in co-working solutions firm Awfis through a bulk deal. According to a corporate disclosure on the National Stock Exchange, the firm offloaded 9,96,307 shares at Rs 570.12 per share for Rs 56.8 crore. As of March 2025, VBAP owned 42,17,712 shares of Awfis, forming a total of 5.92% of Awfis' total captable. Less than a week ago, QRG Investments offloaded Awfis’ shares worth Rs 22 Cr through a bulk deal. Awfis’ revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year. The company’s profit surged 3.5X to Rs 10 crore in Q1 FY26, from Rs 2.8 crore in Q1 FY25 in the same period. Awfis’ stock is trading at Rs 565.8 (as of 11:55 AM) with a total market capitalization of Rs 4,061 crore.

Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr · 7m ago
Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon
Medial

Singularity AMC, a growth equity platform for private and PIPEs, has announced that its second PE fund, Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed at Rs 1800 crore. Launched in August 2023 with a Rs 1,500 crore corpus and a Rs 500 crore green shoe option, the fund saw strong investor interest, securing its first close at Rs 500 crore within a month. It focuses on Energy Transition, next-generation industrials, Consumer, Healthcare, and Financial Services. SGOF II has already backed eight companies, including Lohum, a battery recycling startup; HEG, an energy transition platform such as Sterling & Wilson Data Centre, a data center EPC provider, Sabine, an IVF healthcare company, Classic Legends, the maker of JAWA motorcycles, Qucev, a sustainable EV manufacturer and Deal 7, a luxury watch retailer. Over the next two years, the fund aims to invest Rs 75-175 crore in 12-15 companies. Founded in 2016, Singularity AMC is led by Yash Kela and Mithun Sacheti. The firm manages three funds and has invested in Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its first fund achieved a 30% IRR and is on track to reach 3x MOIC. The fund follows a structured investment approach, with 40% allocated to late-stage companies, 40% to profitable growth-stage firms, and 20% to high-conviction venture-stage opportunities. Its current portfolio is valued at Rs 492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.

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