Highlights
National Investment Fund II has divested almost all its shares, which represent 4.7% of Ather Energy’s total paid-up capital, through open market transactions conducted on November 13, 2025. The fund sold 1.74 crore shares at an average price of Rs 622.35 each, amounting to a cumulative total of Rs 1,083 crore. As of September 30, National Investment Fund II held 1.77 crore shares of Ather Energy, constituting 4.7% of the company’s total capital structure.
According to the stock exchange data, a total of 87 lakh shares were sold via a bulk deal, while the remaining shares were exchanged in block deals. This block deal witnessed significant institutional interest, with Motilal Oswal Mutual Fund taking the lead among buyers by acquiring shares worth Rs 150 crore, closely followed by Invesco Mutual Fund with purchases amounting to Rs 120 crore. Additionally, Param Capital acquired Rs 99.6 crore worth of shares, and Société Générale purchased shares valued at Rs 62 crore.
Other notable investors included Edelweiss Mutual Fund, which bought shares worth Rs 50 crore, and Ashoka WhiteOak ICAV along with India Acorn ICAV (sub-account Ashoka India Opportunities Fund), both investing Rs 25 crore each. Ghisallo Master Fund LP also acquired shares valued at Rs 10 crore.
Tiger Global’s Exit
A week prior, Tiger Global liquidated its entire stake for Rs 1,204 crore, yielding an impressive 16X return on its investment.
Ather Energy’s Market Performance
In terms of electric vehicle sales, Ather Energy maintained its third position in October, rebounding from stagnant growth reported in September to achieve an impressive 53% increase with 28,061 vehicle registrations, thereby capturing a substantial 19.53% market share. The company also surpassed its competitor, Ola Electric, in market capitalization.
For Q2 of the financial year 2026, Ather Energy outperformed Ola Electric, reporting a revenue of Rs 899 crore, up from Rs 583 crore in Q2 of FY25. The company’s net losses decreased by 20% to Rs 157 crore in Q2 FY26 from Rs 197 crore in Q2 FY25.
Current Stock Status
Ather Energy’s stock is currently trading at Rs 644 (as of 11:15 AM), leading to a total market capitalization of Rs 24,494 crore ($2.7 billion).
