Ather Energy IPO ends today; check subscription status, GMP, listing date

The public offering has received bids for 5,89,29,634 equity shares against 5,33,63,160 on offer, leading to a subscription of 1.10 times

Ather Energy IPO subscription status:  Ather Energy IPO subscription status: The initial public offering (IPO) of electric vehicle maker Ather Energy, which is set to conclude today, April 30, has been fully subscribed by investors. Though the public offering, which opened for subscription on April 28, garnered broadly favorable reviews from brokerages, it has received a lacklustre response from investors so far.

 

According to the data available on the NSE, the ₹2,981.06 crore offering has received bids for 5,89,29,634 equity shares against 5,33,63,160 on offer, leading to a subscription of 1.10 times till around 1:45 PM on Wednesday.

 

Among the individual categories, the quota reserved for employees received the highest participation and was subscribed 4.32 times. Retail investors subscribed to 1.48 times the portion reserved for them, qualified institutional buyers (QIBs) 1.35 times, and non-institutional investors (NIIs) subscribed to 35 per cent.

 

Ather Energy IPO details

The Ather Energy IPO is a combination of a fresh issue and an offer for sale (OFS), with promoters and shareholders divesting equity shares of the company. The company has set the price band for the public offering at ₹304–₹321 per share. The lot size has been fixed at 46 shares. Accordingly, investors can bid for a minimum of 46 shares of the Ather Energy IPO and in multiples thereof.

 

Taking the upper price band into consideration, a retail investor would require a minimum of ₹14,766 to bid for one lot of 46 shares and ₹1,91,958 to bid for the maximum of 13 lots or 598 shares.

Ather Energy IPO grey market premium (GMP) today

Unlisted shares of Ather Energy were trading at around ₹322 per share in the grey market, according to sources tracking unofficial market activity. This reflects a grey market premium (GMP) of ₹1 or 0.31 per cent over the upper end of the issue price.  ALSO READ | Arunaya Organics IPO opens; check price band, lot size, GMP, key dates

Should you subscribe to the Ather Energy IPO?

Ather Energy has garnered broadly favorable reviews from brokerages, which remain optimistic about the company's long-term prospects. Analysts at Arihant Capital and Ventura Securities have recommended subscribing to the Ather Energy IPO for listing gains. Meanwhile, Geojit and Bajaj Broking have advised subscribing for the long term. On the other hand, Deven Choksey Research has recommended avoiding the public offering, suggesting that it may be available at a more attractive valuation in the secondary market. READ MORE

Ather Energy IPO allotment date, listing date

As the public offering closes for subscription today, the basis of allotment of shares is likely to be finalised on Friday, May 2, 2025. Successful allottees will receive the company’s shares in their demat accounts tentatively on Monday, May 5, 2025.

 

Ather Energy shares are slated to list on the BSE and NSE tentatively on May 6, 2025.

Ather Energy IPO objective

Ather Energy will not receive any proceeds from the offer for sale, as these will go to the promoters divesting their stake. However, the company plans to use the proceeds from the fresh issue for capital expenditure related to the establishment of an electric two-wheeler (E2W) factory in Maharashtra, India. Additionally, the proceeds will be used for the repayment/prepayment of certain borrowings, investment in research and development, marketing initiatives, and general corporate purposes.

Ather Energy IPO registrar, lead managers

Link Intime India is acting as the registrar for the public offering, while Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are the book-running lead managers.  ALSO READ | Travel Food Services gets Sebi's approval to launch Rs 2,000-cr IPO

About Ather Energy

Ather Energy is a pure-play EV company offering electric two-wheelers, along with proprietary software, charging infrastructure, and smart accessories. It was the 4th largest player by volume in electric two-wheeler sales during the first nine months of FY25. The company has a vertically integrated approach to the design of its products and key technologies, spanning both hardware and software. Notably, 46 per cent of the company’s total workforce is dedicated to R&D.