India, June 22 -- Over a year after raising Rs.2,626 Cr via its IPO, Ather Energy is looking to raise more fresh capital. The Bengaluru-based startup is now eyeing the raise of Rs.2,500 Cr via a qualified institutional placement (QIP).

Since its listing, the E2W maker has managed to significantly boost its sales footprint, clocked record revenues, improved market share and significantly narrowed its losses. As per CEO Tarun Mehta, the company now operates 700 stores, built a solid, reliable product and operations engine, with R&D firing on full gear.

The company's expansion spree also explains why it is going fundraising again. Unlike many companies that raise capital to improve their balance sheet, Ather is trying to raise capital afte...