Ather Energy, an Indian electric two-wheeler startup, has reduced its IPO size by 18% to ₹26.26 billion ($308.3M) as indicated in its recent draft prospectus. The Bengaluru-based company aims for a post-money valuation of $1.4 billion, down from its previous target of $1.5 to $2 billion. Ather plans to utilize ₹9.27 billion for a new facility in Maharashtra and allocate ₹7.5 billion for R&D. The startup recorded a 21% sales increase in 2024, achieving a 10.7% market share. Bidding opens on April 28, with major stakeholders participating in the IPO.