A Litmus Test For India’s EV Pioneer

After months of waiting, it’s finally here. Ather Energy will be the first mainboard IPO for FY26, and the first for the year from the startup ecosystem, joining our list of new-age tech stocks.

The excitement around IPOs has been tempered to some extent by the ongoing global economic policy back-and-forth over tariffs and imports and exports, but Ather has already waited too long. In the time between getting approval from SEBI way back in December to now, Ather has learnt some key lessons from the Indian EV market.

The fact that rival…