Tiger Global, a prominent global investment firm, has fully exited its stake in Ather Energy, one of India’s leading electric two-wheeler manufacturers, selling its entire 5.09% stake for ₹1,204 crore through open market transactions. This move comes just after the conclusion of the post-listing lock-in period for pre-IPO investors. Tiger Global offloaded approximately 1 crore shares on the NSE at around ₹623 per share and nearly 93 lakh shares on the BSE at about ₹620 per share.
Ather Energy’s Recent Financial and Market Performance
Despite Tiger Global’s exit, Ather has maintained strong financial and operational momentum. In Q1 FY26, the company reported a 79% year-on-year increase in operating revenue to ₹644.6 crore, driven by nearly doubling vehicle sales to 46,078 units from 23,426 units in the same quarter last year. Their net loss narrowed marginally to ₹178 crore from ₹183 crore a year prior, demonstrating improved operational efficiency.
In October 2025, it recorded its highest-ever monthly retail sales of 26,713 units, achieving a market share of approximately 19.6%, thereby consolidating its position as the third largest EV two-wheeler manufacturer in India. It also overtook rival Ola Electric in terms of market capitalization during the same period. Bajaj Auto and TVS Motor continue to lead the broader Indian electric two-wheeler market.
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Market Position amid Competitive Landscape
It competes closely with Ola Electric, TVS Motor, and Bajaj Auto in the fast-growing Indian EV segment. It has built a strong brand, supported by cutting-edge technology, expanding retail network, and robust after-sales service. Recent expansions include aggressive store additions, targeting 700 outlets, and enhancing product availability across key markets.
India’s EV Market Growth Outlook
India’s EV market is witnessing rapid growth with production of battery-powered passenger vehicles expected to soar by over 140% year-on-year in 2025, reaching approximately 301,400 units. This projected output will represent about 6% of India’s total passenger vehicle production for the year. The government’s ambitious target aims for EVs to comprise 30% of total passenger vehicle sales by FY 2030, supported by subsidies, financing options, and infrastructure development including an expanding charging network currently up by 72% CAGR.
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Conclusion
Tiger Global’s exit from Ather Energy reflects a strategic portfolio reallocation but does not diminish Ather’s growth trajectory or market standing. As Ather steadily advances in sales volume, revenue growth, and technology innovation, it remains a key player in shaping India’s electric mobility future. The company’s success signals increasing investor and consumer confidence in the EV segment as India accelerates toward sustainable transportation goals.
