Ather Energy Submits Q4FY26 Monitoring Agency Report; Rs. 1008.93 Crore of IPO Proceeds Utilised as at March 31, 2026
Published on: May 5, 2026, 9:29 a.m. | Source: scanx.trade
Ather Energy Limited submitted its Monitoring Agency Report for the quarter ended March 31, 2026, prepared by CARE Ratings Limited, covering utilisation of IPO proceeds of Rs. 2626.00 crore raised through a public issue in April 2025. Cumulative utilisation as at March 31, 2026 stood at Rs. 1008.93 crore, with Rs. 194.98 crore deployed during the quarter and Rs. 1617.07 crore remaining unutilised and parked in fixed deposits across Axis Bank, Kotak Bank, and IDFC Bank. No deviations from the offer document objects were reported, though delays were noted in the Maharashtra E2W factory capital expenditure and marketing initiatives, with Factory 3.0 production commencement revised to October 2026 from July 2026 due to an Environmental Clearance requirement; overall project completion by March 2027 remains unchanged per management. Minor cost revisions were recorded, with issue expenses revised from Rs. 116.60 crore to Rs. 110.00 crore and the difference reallocated to general corporate purposes.
