Ather Energy IPO Day 2 update; subscription lags at 28%, GMP at ₹ 1

Ather Energy IPO has received the bids for 86,09,406 equity shares, against 5,33,63,160 on sale, leading to subscription of 16 per cent

Ather Energy IPO subscription status: The initial public offering (IPO) of Electric Vehicle maker Ather Energy, which opened for subscription on April 28, has seen a muted response from the investors so far. Notably, this is the first mainline public offering of fiscal year 2025-26 (FY26).   

Ather Energy IPO Day 2 subscription status: 5 PM

Ather Energy IPO has been subscribed to 28 per cent as of 5 PM on Tuesday, April 29. According to BSE data, the employee quota has been oversubscribed by 3.18 times. Retail investors have subscribed to 1.12 times of the portion reserved for them, and non-institutional investors (NIIs) have subscribed to 27 per cent. Meanwhile, qualified institutional buyers (QIBs) have placed bids for only 7,636 shares against the 2,89,27,363 shares reserved for them.  

Ather Energy IPO Day 2 subscription status: 3 PM

Ather Energy IPO has been subscribed 27 per cent as of 3:12 PM on Tuesday, April 29. According to NSE data, the retail investors portion has been subscribed over 1.06 times and the employees portion was subscribed 3.00 times. The quota reserved for non-institutional buyers has bee booked only 20 per cent.  However, QIBs have placed bids for only 6,992 shares against the 2,89,27,363 shares reserved for them. 

 

Ather Energy IPO Day 2 subscription status: 2 PM

As of 2 PM on Tuesday, the initial public offering of Ather Energy has been subscribed to 24 per cent. The employee quota has been booked 2.83 times. Retail investors portion was also fully subscribed to 100 per cent, according to NSE data. The portion booked for retail investors was subscribed 19 per cent. However, QIBs have placed bids for only 5,060 shares against the 2,89,27,363 shares reserved for them.  

Ather Energy IPO Day 2 subscription status: 1 PM

Ather Energy IPO has been subscribed to 23 per cent as of 1:04 PM on Tuesday, April 29. According to NSE data, the employee quota has been oversubscribed by 2.74 times. Retail investors have subscribed to 96 per cent of the portion reserved for them, and non-institutional investors (NIIs) have subscribed to 19 per cent. Meanwhile, qualified institutional buyers (QIBs) have placed bids for only 5,060 shares against the 2,89,27,363 shares reserved for them. 

Ather Energy IPO Day 2 subscription status: 12 PM

As of 12 PM on Tuesday, April 29, the Ather Energy IPO has garnered a 22 per cent subscription. According to NSE data, the employee quota has received the highest response, with a 2.60 times oversubscription. Retail investors have subscribed to 91 per cent of their reserved portion, while NIIs have subscribed to 18 per cent. In contrast, QIBs have shown minimal interest, bidding for only 5,060 shares out of the 2,89,27,363 shares reserved for them.

Ather Energy IPO Day 2 subscription status: 11 AM 

Ather Energy IPO has been subscribed 21 per cent as of 11:03 AM on Tuesday, April 29. According to NSE data, the employee quota received the highest participation, being oversubscribed by 2.39 times. Retail investors subscribed to 85 per cent of the portion reserved for them, while NIIs subscribed 18 per cent. Meanwhile, QIBs placed bids for only 5,060 shares against the 2,89,27,363 shares reserved for them. 

Ather Energy IPO Day 1 subscription status

  According to the data available on the NSE, ₹2,981.06 crore offering has received the bids for 86,09,406 equity shares, against 5,33,63,160 on sale, leading to subscription of 16 per cent by the end of the first day, April 28. 

 

Among the individual categories, quota reserved for the employees received the highest participation and got booked by 1.78 times. Retail investors subscribed their category reserved to them by 63 per cent, NIIs 16 per cent, and QIBs has only placed the bids for 5,060 against 2,89,27,363 reserved for them. 

Ather Energy IPO details

The public offering which comprises both a fresh issue as well as an offer for sale (OFS), is available at a price band of ₹304 - ₹321 per share, and the lot size is 46 shares. Accordingly, investors can bid for a minimum of 46 shares and in multiples thereof.

 

At the upper price band, a retail investor will require a minimum of ₹14,766 to bid for one lot of 46 shares, and ₹1,91,958 to bid for a maximum of 13 lots or 598 shares.  A Small-high net worth individual (HNI) can bid for a minimum of 14 lots or 644 shares of Ather Energy IPO with an amount of ₹2,06,724, and a maximum of 67 lots or 3,082 shares with ₹9,89,322.

Ather Energy IPO grey market premium (GMP)

The unlisted shares of Ather Energy were trading at around ₹322 per share in the grey markets, revealed the sources tracking unofficial market activities. This reflects a grey market premium (GMP) of ₹1 or 0.31 per cent over the upper end of the issue price. 

Should you subscribe to the Ather Energy IPO?

Brokerages broadly remain optimistic on the long-term prospects of Ather Energy. Analysts at Arihant Capital, and Ventura Securities both have recommended investors to subscribe the Ather Energy IPO for listing gains. Meanwhile, Geojit, and Bajaj Broking have recommended to subscribe for long-term. Deven Choksey Research, on the other hand, has recommended the investors to avoid the public offering and said that it can be bought at an attractive valuation in the secondary market. READ MORE  

Ather Energy IPO allotment date, listing date

The public offering will remain available for subscription till April 30, 2025. The basis of allotment of the Ather Energy IPO shares is expected to be finalised tentatively on May 2, 2025. The successful investors will receive the company’s shares on Monday, May 5, 2025.  ALSO READ | Tiger Global-backed Urban Company files draft papers for $223 million IPO

 

Shares of Ather Energy are scheduled to list on the NSE and BSE tentatively on May 6, 2025. 

Ather Energy IPO objective

Ather Energy will not receive any proceeds from the OFS. The company, however, proposes to use the proceeds from the fresh issue for capital expenditure to be incurred for the establishment of an E2W factory in Maharashtra, India. The company will further use the proceeds for repayment/pre-payment, in full or part, of certain borrowings availed, investment in research and development, expenditure towards marketing initiatives, and general corporate purposes.

Ather Energy IPO registrar, BLRM details

For the public offering, Link Intime India acts as the registrar, while Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are the book-running lead managers. 

About Ather Energy

Ather Energy is a pure-play EV company, engaged in the design, development, and sale of E2Ws, complemented by an integrated ecosystem comprising in-house developed software, charging infrastructure, and smart accessories. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development.