Ather Energy IPO, April 25 -- The much-awaited initial public offering (IPO) of EV startup Ather Energy is set to hit the Street on April 28, with a price band of Rs.304 to Rs.321 per share. But beyond investor interest and grey market premiums (GMP), Ather Energy IPO marks a significant milestone for the Indian startup ecosystem - particularly for IIT Madras' incubation efforts.

Back in 2013, when Ather Energy was in its nascent stages, the IIT Madras Incubation Cell (IITM IC) and its sister entity IITM Rural Technology and Business Incubator (RTBI) took a bold bet on the fledgling EV firm. In exchange for providing office space, mentorship, and crucial early-stage support, the incubators were allotted a 5% stake in the startup.

As per...