Ola Electric CEO Bhavish Aggarwal has extended his congratulations to rival Ather Energy on its successful stock market debut, calling it a “milestone for the Indian EV industry”.
A Historic Moment for Indian EVs
Ather Energy became the second electric two-wheeler company to go public after Ola Electric’s ₹6,145-crore IPO in August 2024. The company’s ₹2,981-crore IPO was a combination of a fresh issue worth ₹2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and investors.
Aggarwal took to social media to praise Ather’s achievement, stating, “Congrats to Tarun Mehta and the whole Ather Energy team on this milestone for the Indian EV industry! Let’s together make India the global EV hub.”
Industry Leaders React
Ather Energy CEO Tarun Mehta responded to Aggarwal’s message, emphasizing that the Indian EV story is just beginning, and the two-wheeler segment is leading the charge.
Social media users lauded the rare show of camaraderie between competitors, with many praising Aggarwal’s sportsmanship and collaborative vision for India’s EV sector.
Market Performance
Ather Energy’s shares debuted at ₹326.05 on the BSE and ₹328 on the NSE, reflecting a premium of 2.18% over the issue price of ₹321. However, the stock later declined by 6% during intraday trading.
