Bengaluru-based electric scooter maker Ather Energy has allotted 433,842 equity shares to employees following the exercise of stock options, the company said in a stock exchange filing on Monday.
The allotment was approved by the company’s board through a circular resolution passed on December 29 under the Ather EnergyEmployee Stock Ownership Plan (ESOP), 2025.
Following the issuance, Ather Energy’s paid-up share capital increased to ₹38.18 crore from ₹38.14 crore. The company did not disclose the exercise price of the stock options or the number of employees who participated in the allotment.
The filing noted that the shares will rank pari passu with existing equity shares, carrying the same rights, including voting rights and entitlement to dividends.Employee stock option exercises typically lead to marginal dilution for existing shareholders, but remain a common tool for startups and new-age companies to attract, retain and incentivise senior management and employees.
In September, Ather Energy had announced the grant of 1.27 million fresh employee stock options under its 2025 ESOP scheme.
Ather Energy is currently the third-largest electric two-wheeler manufacturer in India by market share. In 2025, the company sold close to 200,000 electric scooters, accounting for around 16.2 per cent of the market, behind TVS Motor and Bajaj Auto.