Ather Energy Limited — Others, 04-08-2025: Monitoring Agency Report

Ather Energy's latest report on IPO proceeds utilization indicates Rs. 370.40 Cr was used during the quarter ended June 30 from the Rs. 2626.00 Cr raised. Funds covered Rs. 28.60 Cr for borrowings, Rs. 46.20 Cr for R&D, and Rs. 7.70 Cr for marketing. General corporate purposes, including raw material and operating expenses, utilized Rs. 287.90 Cr. The Rs. 927.20 Cr earmarked for the E2W factory remains unspent due to pending environmental clearance, though the company expects to meet project timelines. The remaining Rs. 2255.60 Cr is mostly held in fixed deposits, confirming no deviations from the original plan.