Ather Energy IPO: Cofounders Set for 15.2X Returns, IIT Madras Also Cashes In
India’s booming electric vehicle (EV) sector is witnessing a landmark moment as Ather Energy gears up for its highly anticipated initial public offering (IPO). The startup’s cofounders, Tarun Mehta and Swapnil Jain, are poised to rake in significant gains, with both founders set to earn 15.2X returns on their initial investment through the IPO’s offer for sale (OFS).
Ather Energy, known for its smart electric scooters and cutting-edge battery technology, has made remarkable progress since its inception. As part of its IPO, the company has announced an OFS where both Mehta and Jain will each offload 9.8 lakh shares. This move comes from their individual holdings of 2.05 crore shares in the company prior to the IPO.
The math behind the windfall is impressive. The cofounders had originally invested INR 2.1 crore each to acquire their respective shares. Now, with shares priced at the upper band of the IPO—INR 314 to INR 321 per share—the sale of 9.8 lakh shares is expected to fetch around INR 31.4 crore for each founder. This translates to a 15.2X return on their initial investment, highlighting both the company’s growth and the personal financial success of its founders.
The excitement surrounding Ather Energy’s IPO is not just limited to its cofounders. IIT Madras Incubation Cell, which played a pivotal role in nurturing the startup during its early stages, is also participating in the OFS. The institution is set to sell 31,050 shares, expected to bring in approximately INR 1 crore. Considering that the cost of acquisition was close to zero, this represents a substantial return on its early support of the venture.
From an SEO perspective, this development is generating traction around keywords such as “Ather Energy IPO returns,” “Tarun Mehta Swapnil Jain shares,” and “IIT Madras startup success.” The story illustrates the growing influence of India’s startup ecosystem and the profitability of early-stage innovation and incubation.
Ather’s IPO reflects larger trends in India’s EV market, which has been seeing increased investor interest, government backing, and technological advancements. With urban consumers shifting toward sustainable mobility solutions, companies like Ather Energy are well-positioned to dominate the future of electric transportation in India.
The company’s success is also a testament to the strength of India’s engineering talent and the supportive role institutions like IIT Madras play in fostering entrepreneurship. As more tech startups eye public listings, success stories like Ather’s will inspire both investors and young entrepreneurs across the country.
Conclusion:
With founders Tarun Mehta and Swapnil Jain achieving 15.2X returns, and IIT Madras Incubation Cell also cashing in, Ather Energy’s IPO underscores the lucrative potential of India’s EV startup scene. As the company hits the public market, it not only brings value to its early stakeholders but also cements its position as a key player in India’s clean mobility revolution.
![OYO Enters Food and Beverage Sector with Launch of Townhouse Café and In-House Kitchen Services]({"jaw_blog-16_9-small":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-170x203.jpg","width":170,"filesize":9813},"jaw_blog-16_9-middle":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-270x322.jpg","width":270,"filesize":18915},"jaw_blog-16_9":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-475x567.jpg","width":475,"filesize":41151}})
![QNu Labs Secures ₹60 Cr in Series A Funding to Advance Quantum-Safe Cybersecurity]({"jaw_blog-16_9-small":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-4-170x203.jpg","width":170,"filesize":11606},"jaw_blog-16_9-middle":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-4-270x322.jpg","width":270,"filesize":23732},"jaw_blog-16_9":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/05\/brand-4-475x567.jpg","width":475,"filesize":56961}})
![The Souled Store Acquires Redwolf to Strengthen Its Hold on Pop Culture Merchandise Market]({"jaw_blog-16_9-small":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/04\/brand-3-3-170x203.jpg","width":170,"filesize":8934},"jaw_blog-16_9-middle":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/04\/brand-3-3-270x322.jpg","width":270,"filesize":17054},"jaw_blog-16_9":{"file":"https:\/\/brandzmagazine.com\/wp-content\/uploads\/2025\/04\/brand-3-3-475x567.jpg","width":475,"filesize":36112}})