Tiger Global has completed its exit from Ather Energy after selling its entire holding in the electric two-wheeler manufacturer through bulk deals on the Indian stock exchanges. The divestment marks the end of the global investor’s involvement with Ather, a company it first backed nearly a decade ago.
Exchange data show Tiger Global’s Internet Fund III Pte Ltd offloaded its remaining stake of about 5.09% on November 6. The fund sold 1,01,25,000 shares on the National Stock Exchange (NSE) at an average price of ₹623.56 per share. It also sold 92,35,832 shares on the Bombay Stock Exchange (BSE) at ₹620.45 per share. Together, the sales generated proceeds of approximately ₹1,204 crore.
As of the September quarter, Tiger Global was holding around 1.93 crore Ather shares. This final round of selling follows a smaller tranche sold in early 2025 through Ather’s offer-for-sale (OFS), where the fund realised ₹12.84 crore. The exit consolidates Tiger Global’s shift away from the EV company while capturing significant returns from its early investment.
Tiger Global Exit
Tiger Global first invested in Ather Energy in 2015, contributing to the startup’s growth at an early stage. Based on its cost per share from that initial round, the fund is estimated to have earned around 8.3 times return on the shares sold in the OFS block. Returns on the overall investment may vary, as the fund made follow-on investments over the years.
The trading session saw heightened market activity in Ather shares. IRAGE Broking Services LLP purchased around 22 lakh shares worth ₹137 crore and sold more than 21 lakh shares valued at ₹134 crore. Analysts note that this trading pattern indicates typical market-making behaviour, rather than any formal price stabilization move.
Ather’s strong presence in the electric mobility market is seen as one of the drivers behind investor participation. The brand remains among the top performers in India’s EV sector and continues to attract attention from both market intermediaries and long-term players.
Strong Market Position in EV Segment
Ather Energy continues to expand its share of the electric two-wheeler market, supported by new product launches and wider dealership networks. According to Vahan data, the company recorded a 53% increase in vehicle registrations in October, reaching 28,061 units and securing a market share of nearly 19.5%. Ather ranked behind Bajaj Auto and TVS Motor in monthly sales, demonstrating the growing competitiveness among leading EV brands.
Financial indicators also show signs of improvement. In the first quarter of FY26, the company posted revenue from operations of ₹645 crore, a 79% rise compared to the previous year. Net losses narrowed 3% to ₹178 crore in the same period. Ather is expected to announce its Q2 FY26 results on November 10.
About Ather Energy
Ather Energy is an electric mobility manufacturer headquartered in Bengaluru, known for its performance-focused electric scooters and smart charging network. Founded in 2013, the company develops vehicles equipped with connected features, touchscreen dashboards and fast-charging capabilities. It continues to invest in battery development, manufacturing scale-up and charging infrastructure across India. The company sees demand rising as more consumers shift toward cleaner and cost-efficient mobility
