Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) ....
ATHERENERG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings, as the monitoring agency, has submitted its Q4 FY26 report on the utilization of Ather Energy's Rs. 2,626 crore IPO proceeds raised in April 2025. Of the total proceeds, Rs. 1,008.93 crore (38.4%) has been utilized as of March 31, 2026, with Rs. 1,617.07 crore remaining in fixed deposits with Axis Bank, Kotak Bank, and IDFC Bank earning 6.75-7.05% interest. No deviations from the objects disclosed in the offer document were observed. The company has spent Rs. 139.63 crore on the E2W factory (Factory 3.0) in Maharashtra and Rs. 272.42 crore on R&D. The Factory 3.0 production commencement has been delayed to October 2026 (from July 2026) due to environmental clearance approvals that were not originally required at the time of prospectus filing, though the overall project completion timeline of March 2027 remains intact. The company has issued purchase orders worth 67% of the total project cost.
The filing shows normal progress on IPO fund utilization with no misuse detected. The 3-month delay in Factory 3.0 production start is a minor setback but overall project timeline remains on track, which should not materially impact investor sentiment.