While secondary markets have wavered, primary markets have been largely dormant over the past three months, with only one initial public offering (IPO) from Ather Energy
The company reported a revenue of ₹676.1 crore in the fourth quarter, rises 29 per cent year on year(YoY) from last year's Q4 revenue of ₹523.4 crore
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The company has also received ARAI clearance to use LFP batteries which will be used in its two wheelers - which Mehta says will help in reducing costs further
Businesses not availing PLI scheme tend to be more "disciplined" in capital (allocation) besides more durable in pricing and margins, Ather Energy Co-founder and CEO Tarun Mehta said on Tuesday as the shares of his company started trading on stock exchanges after a Rs 2,981-crore public float. Mehta also sounded bullish on the domestic EV industry and said that Ather was set to play a major part in the domestic premium e-two-wheeler space with plans to expand both product offerings and distribution network. The Rs 2,981-crore initial share sale had a price band of Rs 304-321 apiece and shares listed with a premium of over 2 per cent against the issue price. The initial public offering (IPO) was a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders. "I think not having PLI forces the business to be very disciplined with capital. PLI is not a 20-year scheme. It's another few years left.
Ather Energy shares listed at ₹326.05 per share on the BSE, and ₹328 per share on the NSE, against its issue price of ₹321 per share
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Ahead of listing, the company's shares were quoted trading at around ₹328 per share, reflecting a grey market premium (GMP) of ₹7 or 2.18 per cent over the issue price of ₹321
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Once the Ather Energy IPO allotment is finalised, investors can check their status on the official websites of BSE, NSE, or MUFG Intime India (formerly Link Intime India), the registrar for the issue
High net-worth individuals (HNIs) subscribed only 66 per cent, while retail and employee portions fared better at 1.78x and 5.4x, respectively
Analysts are viewing Ather Energy's share sale as a litmus test for India's IPO market, where momentum has slowed down amid a broader market decline
The public offering, which opened for subscription on April 28, has received a muted response from investors so far, despite garnering broadly favorable reviews from brokerages
The wealthy investor or high net worth individual portion was subscribed 27 per cent, the retail investor portion was subscribed 1.1 times
On Friday, Ather allocated shares worth Rs 1,340 crore to anchor investors
The initial public offer of electric two-wheeler maker Ather Energy received a 16 per cent subscription on the first day of bidding on Monday. The initial share sale received bids for 86,09,406 shares against 5,33,63,160 shares on offer, according to data available with the NSE. The portion for retail individual investors (RIIs) fetched 63 per cent of subscriptions while the quota for the non-institutional category received 16 per cent of subscriptions. Ather Energy Ltd on Friday said it has mobilised Rs 1,340 crore from anchor investors. The Rs 2,981-crore public issue, with a price band of Rs 304-321 apiece, is available for public subscription from April 28-30. This is the first mainboard public issue of the current financial year 2025-26. The IPO is a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders. At the upper end of the price band, the IPO size is pegged at Rs 2,981 cro
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The Ather Energy IPO GMP has plunged sharply from ₹20 or 6 per cent recorded on Wednesday, April 23, when the company announced its price band for the public offering
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