Mumbai, June 13 -- As a part of fundraising plan, the company will raise up to Rs 1,500 crore through the issuance of equity shares via a qualified institutions placement (QIP) in one or more tranches.

Additionally, the company will raise Rs 1,000 crore through the issuance of equity shares and/or foreign currency convertible bonds (FCCBs), and/or any other eligible securities representing equity shares or convertible into or exchangeable for equity shares, whether rupee denominated or denominated in one or more foreign currency(ies) The proposed issuance may be undertaken through permissible routes, including a preferential issue, rights issue, or any other mode allowed under applicable laws.

Ather Energy designs and manufactures high-...