ATHER
Listed new-age cos’ road to profitability; QED’s Nigel Morris interview
After a torrid time on Dalal Street, new-age firms have taken a turn towards profitability in the March quarter. This and more in today’s ETtech Morning Dispatch.
Most listed new-age startups improve Q4 profitability; Swiggy, Ola lag behind
Out of 17 publicly listed new-age firms in India, 11 reported better profitability in the March quarter, either by narrowing losses or posting stronger profits. Top performers included Nykaa, Policybazaar, Delhivery, Ather Energy and Ixigo. This points to stronger operational discipline across India’s digital-first companies.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
ETMarkets Smart Talk | Dollar strength, geopolitics & yields – the triple threat roiling Indian markets: Anirudh Garg
Amid market volatility fueled by global factors like dollar strength and geopolitical tensions, Anirudh Garg of INVasset PMS offers insights on navigating Dalal Street. He suggests tactical portfolio shifts, highlighting opportunities in sectors like textiles, financials, and defence. Garg emphasizes a data-driven approach to managing risk and uncovering long-term value in a dynamic market.
Ola Electric shares plunge; Nykaa Q4 profit doubles
Ola Electric shares plummet 10% after Q4 losses double, revenue contracts. This and more in today’s ETtech Top 5.
Ather Energy betters Q4 results where Ola Electric falters
Ola Electric experienced a significant downturn in the March quarter, with revenue declining by 62% to Rs 611 crore and losses doubling to Rs 870 crore, attributed to registration process issues. In contrast, Ather Energy reported a 29% increase in operating revenue to Rs 676.1 crore and narrowed its losses by 17%.
- Go To Page 1
VCs flock to Chennai as IIT Madras helps deeptech take root
Chennai is rapidly becoming a deep-tech funding hub, attracting venture capitalists due to the thriving IIT Madras incubation ecosystem. Startups in Chennai have raised over $795 million in 2024 across 95 rounds, with deals closing at very early stages. The success of startups like Agnikul Cosmos and Ather Energy is drawing increased VC attention and frequent visits.
Ather Energy signs pact with Infineon Technologies to drive innovation in EV space
Ather Energy and Infineon Technologies Asia Pacific have partnered to drive innovation in India's EV sector. The collaboration aims to advance semiconductor technologies for light electric vehicles, charging infrastructure, and safety. Together, they will develop efficient, reliable, and cost-effective EV solutions, contributing to India's goal of 30% EV sales by 2030.
Ola Electric slips to number three in EV two-wheeler market as legacy players gain ground
Ola Electric's market share in India's electric two-wheeler market has significantly declined, falling to third place in May as TVS Motor and Bajaj Auto gained ground. The company faced a steep drop in vehicle registrations and is grappling with operational and regulatory challenges, including scrutiny over sales data and consumer rights violations.
Unacademy founders exit; Ola Electric’s freefall
Happy Wednesday! Unacademy cofounders are planning to exit the edtech firm as the company expands its offline footprint. This and more in today’s ETtech Morning Dispatch.
Legacy e-scooter companies charge ahead
Ola Electric's market share declined in May. TVS Motor and Bajaj Auto gained ground. Ola Electric's registrations decreased significantly. Ather Energy also experienced a drop. Ola Electric aims to raise funds through debentures. The company faces scrutiny over sales data and vehicle quality. Shares are trading below the IPO price.
Who is Vaibhav Taneja? The Tesla CFO who out-earned Pichai and Nadella
Vaibhav Taneja, Tesla's CFO, has garnered attention with his substantial $139 million pay package for 2024, surpassing the earnings of tech leaders like Satya Nadella and Sundar Pichai. While his base salary is $400,000, the majority of his compensation comes from stock options and equity.
HDFC Bank, Eternal among stocks bought and sold by SBI Mutual Fund in April
SBI Mutual Fund, the largest in India, actively adjusted its portfolio in April, increasing stakes in HDFC Bank and adding 397 stocks, including Reliance Industries and Tata Motors. Simultaneously, the fund house reduced holdings in 138 stocks like Bajaj Finance and Infosys, while completely exiting Quess Corp.
Belrise Industries GMP at 14% ahead of IPO launch. Should you subscribe?
Belrise Industries' IPO is launching soon. The IPO price is fixed at Rs 85-90 per share. The IPO has a grey market premium of 14.44%. Anand Rathi and Choice Broking suggest subscribing to the IPO. The company manufactures auto components. The IPO reserves shares for QIBs, NIIs, and retail investors. Axis Capital and SBI Capital Markets are managing the IPO.
Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp
Euler Motors has raised Rs 638 crore in Series D funding led by Hero MotoCorp, marking Hero’s entry into electric three- and four-wheelers. Funds will boost sales, service network, and product development. With this round, Euler’s total funding reaches Rs 1,420 crore, supporting expansion to 80 cities and increasing market share.
Euler’s fundraise; Qcomm, a small piece of FMCG pie
EV maker Euler Motors has raised fresh funding led by Hero MotoCorp. This and more in today’s ETtech Top 5.
Qlik bullish on India, aims to cross 1,000 customer base this year
Located in Mumbai, this strategic investment enhances Qlik's global cloud infrastructure and deepens its long-term commitment to the Indian market, meeting the growing demand for local data storage, regulatory compliance, and advanced AI capabilities. Qlik senior vice president (APAC) Maurizio Garavello said India headcount has doubled in the last 16 months, and hiring would continue as business is growing in the market.
IPO Calendar: Belrise Industries lead 4 IPOs that will rev up primary market next week
Four IPOs will hit the Indian markets next week, led by mainboard offerings from Belrise Industries and Borana Weaves. Two SME firms—Unified Data-Tech Solutions and Dar Credit—will also launch issues, aiming to raise capital for expansion, debt repayment, and operations amid renewed investor interest.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Belrise Industries IPO: Price band set at Rs 85-90; issue opens on May 21
Belrise Industries has set the price band for its Rs 2,150 crore IPO at Rs 85–90 per share. The issue opens on May 21 and closes on May 23. The auto parts maker will use Rs 1,618 crore to repay debt. The IPO comprises a fresh issue of 23.89 crore shares and will be listed on May 28.
Helios Flexi Cap Fund exits Reliance Industries, adds 3 stocks in April
Helios Flexi Cap Fund fully exited Reliance Industries in April, selling shares worth ₹105.95 crore. Simultaneously, the fund introduced Ather Energy, Axis Bank, and PB Fintech to its portfolio. It also increased exposure in 360 One WAM, ITC Hotels, and Syrma SGS Technology while maintaining positions in 47 other stocks, reflecting a dynamic investment strategy.
Flipkart‘s quick breather; Now hiring: AI leaders
Happy Tuesday! Flipkart is going slow on the expansion of its quick commerce service to control costs. This and more in today’s ETtech Morning Dispatch.
Ather Energy Q4 Results: Co's loss narrows to Rs 234.4 crore on better gross margins
Electric two-wheeler maker Ather Energy, which made its debut on stock exchanges early this month, on Monday reported an 18 per cent drop in losses to Rs 234.40 crore for the March quarter aided by better gross margins. The company had posted a loss of Rs 283.30 crore in the year-ago period.
Ather trims Q4 loss; Startups power defence push
Ather Energy reduced its losses in the March quarter, boosted by higher sales and improved profitability. This and more in today’s ETtech Top 5.
Ather Energy narrows Q4 losses by 17%; revenue rises 29% to Rs 676 crore
Sales for the Bengaluru-based electric two-wheeler maker climbed 35% in Q4 FY25 to around 47,400 units, largely driven by its recently launched family e-scooter, Rizta. For the full year, volumes grew 42% to 155,394 units from 109,577 in FY24. According to founder and CEO Tarun Mehta, during the year, the company grew from a single product line business to seven products and two product lines with Rista and Ather 450.
Ola Electric’s Bhavish Aggarwal cheers rival Ather on stock market debut
Ola Electric congratulated rival Ather Energy on its stock market debut, with both CEOs exchanging warm messages of support on social media. The gesture was praised by users online. Despite recent setbacks, Ola remains the market leader in India’s EV two-wheeler space, ahead of Ather by a significant margin.
Muted debut, rich valuations: Can Ather Energy override early bumps to deliver long-term gains?
Ather Energy's stock debuted flat and continued to decline due to subdued IPO response and stretched valuations. Despite investor caution, analysts see long-term potential in Ather's brand, EV ecosystem, and expansion plans. Profitability may take time due to competition and costs, making it suitable for high-risk investors willing to accumulate gradually.
Ather Energy IPO: From startup to stock market listing
Ather Energy, a leading electric scooter manufacturer, raised Rs 2,981 crore through its IPO, with plans for a new facility, R&D, and marketing. Despite stiff competition from Ola Electric, Ather continues to grow. Here’s what you need to know about Ather, a startup turned leader in the electric two-wheeler market.
Ather Energy shares debut at 2.2% premium over IPO price
Ather Energy's shares debuted with modest gains on Indian exchanges, listing at a premium of 2.18% on NSE and 1.57% on BSE. The IPO, aimed at raising Rs 2,981 crore, saw 1.43 times subscription, with strong QIB and retail participation. Proceeds will fund a new manufacturing plant, R&D, marketing, and debt repayment, unlocking value for investors and employees.
Load More
