Ather Rizta's Success Pushes Brand to 15% Market Share in Q4 FY2025 Ahead of IPO Launch

Ather Energy has made a significant impact in India’s fast-evolving electric scooter segment, closing Q4 of FY2025 with a 15% market share—its highest ever. The surge in market presence comes on the heels of the successful launch of the Ather Rizta, a family-focused e-scooter that has rapidly gained traction across multiple regions.

With its IPO just around the corner, scheduled for April 28, the timing of this milestone couldn’t be more strategic for the Bengaluru-based EV manufacturer.

Ather Sees Largest Market Share Jump Among Top E-Scooter Brands

According to recent Vahan sales data, Ather Energy recorded the biggest quarter-on-quarter market share growth among the top four electric two-wheeler brands in India. The company’s share rose from 11% in Q3 to 15% in Q4 FY2025, largely driven by the strong performance of the Ather Rizta.

While Ola Electric continues to lead the segment, its market share has declined from 30% to 21%, indicating growing competition and shifting consumer preferences.

South India remained Ather’s stronghold, with Karnataka and Tamil Nadu posting double-digit growth. Meanwhile, Gujarat saw a massive spike from 5% in July 2024 to 25% by December, and Maharashtra posted steady double-digit gains between September and March.

Ather Rizta Opens Up New Markets, Expands National Reach

The Ather Rizta has helped expand the company’s footprint beyond southern India. In the northern belt, particularly Delhi, Ather captured a 15% market share, up by 7% year-on-year, surpassing Bajaj in the capital for the first time.

Built on Ather’s proven 450 series platform, the Rizta is tailored for family buyers with its flat floorboard, largest-in-class seat, and 34-litre under-seat storage. Available in 2.9 kWh and 3.7 kWh battery options, it offers a maximum range of 160 km (IDC).

Key features include:

• Emergency Stop Signal (ESS)

• Skid Control

• Fall-Safe Shutdown

• WhatsApp Notifications

• Alexa Voice Commands

• Digital Console (non-touch)

These tech-forward additions have helped position the Rizta as a premium yet practical offering in the family EV category.

IPO Launch on April 28: Ather Gears Up for Public Debut

Ather Energy is now preparing for its Initial Public Offering (IPO), with a price band between ₹304 and ₹321 per share. The public issue totals ₹2,626 crore, including an Offer for Sale (OFS) of ₹354.76 crore by existing shareholders.

Between April and December 2024, Ather recorded revenue of ₹1,578.9 crore, a 28% YoY increase, while net losses reduced by over 25% to ₹577.9 crore. The company’s estimated valuation now stands at ₹11,956 crore.

The IPO is expected to give Ather the financial firepower to scale production, expand into new markets, and invest in R&D as competition heats up in India’s rapidly growing electric mobility sector.