Ather Energy: Monitoring Agency Report for IPO Proceeds (Q2 FY27)

Ather Energy Ltd has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, as per SEBI regulations. The report, issued by CARE Ratings Limited, covers the utilization of proceeds from its Initial Public Offering (IPO), Qualified Institutions Placement (QIP), and Preferential Issue. The total IPO amount monitored was Rs. 2626.00 crore. The report indicates no deviation from the stated objects of the issue. A minor delay in the utilization for 'Factory 3.0' was noted due to a later-than-expected environmental clearance approval, shifting the production commencement timeline. The company confirmed that all utilization is as per the disclosures in the Offer Document.