Ather Energy Founders to Earn ₹3 Crore Each Annually
Ather Energy, a pioneering electric scooter manufacturer, is all set to launch its Initial Public Offering (IPO) next week. As the company prepares to enter the capital markets, its founders, Tarun Mehta (CEO) and Swapnil Jain (CTO), are set to receive an annual salary of ₹3 crore each. According to Moneycontrol, citing Ather’s Red Herring Prospectus, the founders’ pay package will also have a flexibility clause that allows for higher payouts in years when the company reports inadequate or no profits.
Tarun Mehta, the CEO of Ather Energy, has been instrumental in the company’s success story. Under his leadership, Ather has established itself as a leading player in the electric two-wheeler segment, with its scooters being highly popular among customers. Mehta’s vision and strategy have been instrumental in driving the company’s growth, and his compensation package reflects his importance to the organization.
Swapnil Jain, the CTO of Ather Energy, has played a crucial role in the company’s technological advancements. Jain has been instrumental in developing Ather’s electric scooter platforms, which have received widespread acclaim for their performance, range, and features. His technical expertise has been vital in driving Ather’s innovation and differentiation in the market.
The news of Ather Energy’s founders receiving an annual salary of ₹3 crore each has sparked interest among investors and industry watchers. The company’s IPO, which is expected to raise ₹625 crore, is seen as a significant event in the Indian startup ecosystem. Ather Energy’s IPO will be a test case for other startups looking to list on the Indian bourses, and the company’s performance will be closely watched by investors.
Ather Energy’s financial performance has been impressive, with the company reporting a revenue growth of 92% year-on-year in FY2022. The company’s net loss, however, has been a concern, with Ather reporting a loss of ₹243 crore in FY2022. Despite this, the company’s investors are optimistic about its growth potential, and the founders’ compensation package reflects this.
The flexibility clause in the founders’ pay package is significant, as it allows them to take home higher payouts in years when the company reports inadequate or no profits. This clause reflects the founders’ commitment to the company’s long-term growth and their willingness to share the pain and the gain with investors.
Ather Energy’s IPO is expected to be a highly anticipated event, with investors keen to get a piece of the action in the electric vehicle (EV) space. The company’s electric scooters have been highly popular among customers, and its IPO is seen as a significant opportunity for investors to participate in the growth of the EV industry.
In conclusion, Ather Energy’s founders, Tarun Mehta and Swapnil Jain, are set to receive an annual salary of ₹3 crore each, with the flexibility to earn up to ₹5 crore each in years when the company reports inadequate or no profits. The news of their compensation package has sparked interest among investors and industry watchers, and Ather Energy’s IPO is expected to be a highly anticipated event in the Indian startup ecosystem.
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