ATHERENERG

June 18 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS said on Wednesday, it plans to scale up its retail network to 700 centres across India by the end of fiscal 2026.

(Reporting by Meenakshi Maidas in Bengaluru)

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Adds details, background from paragraph 3 onward

May 20 (Reuters) - Schloss Bangalore, the owner of Leela luxury hotels, has slashed its IPO size by 30% to 35 billion rupees ($409 million), joining a growing list of companies that have trimmed their issues due to market uncertainty.

Brookfield-backed BAM.TO Schloss, which initially planned a 50 billion-rupee initial public offering, will run the issue from May 26-28, its updated prospectus showed on Tuesday. Large "anchor" investors will get to bid on May 23.

Several companies seeking to tap the Indian capital market this year have either delayed their IPOs or downsized their issues as the domestic market faced turbulence due to global trade worries and a domestic border conflict.

India's blue-chip Nifty 50 .NSEI has rebounded in recent weeks and is up 4% for the year, after the country held a ceasefire with Pakistan and as some trade tensions eased. The index is still 6% off record highs it hit last September.

Schloss did not specify in its prospectus why it had cut the IPO size.

The company's IPO is still India's second-largest public float so far in 2025, where proceeds are down about 5% from a year before, according to LSEG data from May 6.

Last month, Hero MotoCorp-backed e-scooter maker Ather Energy ATHR.NS slashed its valuation by 44%, with its existing investors offloading only half the number of shares they initially planned to sell.

Education loan provider Avanse Financial Services, contract drug maker Anthem Biosciences and South Korean conglomerate LG Electronics' 066570.KS India unit LGEL.NS have also put IPO plans on hold.

Schloss will sell fresh shares worth 25 billion rupees, down from an initially planned 30 billion rupees, while Brookfield plans to sell shares worth 10 billion rupees - half of its original plan.

The company, which runs 13 hotels, will use proceeds from the sale of new shares to repay its borrowings.

($1 = 85.5520 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shinjini Ganguli and Shailesh Kuber)

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May 12 (Reuters) - Indian electric two-wheeler maker Ather Energy ATHR.NS reported a narrower fourth-quarter loss on Monday, helped by strong demand for its top-selling 'Rizta' family scooters.

The company, which made its stock market debut last week, reported loss of 2.34 billion Indian rupees (about $28 million), compared to a loss of 2.83 billion rupees a year before.

($1 = 84.8270 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)

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May 7 (Reuters) - Ather Energy Ltd ATHR.NS:

• NIRANJAN KUMAR GUPTA RESIGNS AS NON-EXECUTIVE DIRECTOR OF ATHER ENERGY

Source text: ID:nBSE2zktt7

Further company coverage: ATHR.NS

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May 6 (Reuters) - India's Ather Energy rose 2% in pre-open market in its trading debut on Tuesday, as investors bet on the electric scooter maker's research and development capabilities.

The stock listed at 328 rupees on the National Stock Exchange of India, higher than its offer price of 321 rupees.

The company's initial public offering of $352 million - the third-largest in India this year - was hauled over the finish line by institutional investors such as Abu Dhabi Investment Authority and Temasek.

While some existing investors including GIC and Tiger Global sold shares in the IPO, Ather's largest shareholder, Hero MotoCorp HROM.NS, did not.

Ather, one of the first companies to sell e-scooters in India in 2018, had reduced its IPO size by roughly 15% and cut its targeted valuation by 44%.

The company, whose founder refers to their tech-loaded scooters as the "Apple of electric two-wheelers", is counting on newer models to turn profitable and close the gap with rivals Ola Electric OLAE.NS, TVS Motor TVSM.NS and Bajaj Auto BAJA.NS.

The Bengaluru-based company will use most of the IPO proceeds to build a third factory and for R&D.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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