Indian electric vehicle manufacturer Ather Energy Pvt. may scale back the size of its anticipated initial public offering (IPO) by at least $50 million, according to people familiar with the matter. The company, which had initially targeted a $400 million raise, is reportedly reassessing its plans in light of heightened volatility in global stock markets.
The possible reduction in IPO size appears to stem from existing investors contemplating a smaller share sale than previously expected. While Ather still aims to proceed with its public listing in the coming weeks, alternative fundraising options—such as a private placement—are reportedly being considered should market sentiment worsen further.
In addition to resizing the offering, Ather is also said to be evaluating a downward adjustment in its expected valuation. Originally aiming for a valuation near $2 billion, the company is now reportedly considering a revised figure closer to $1.6 billion, in response to evolving investor appetite.
The outcome of Ather’s recalibrated IPO plans could set a precedent for other startups eyeing public listings amid a turbulent global financial landscape.
