Ather Energy IPO: The first mainboard initial public offering (IPO) of the financial year 2025-26, Ather Energy Limited, has hit the Indian primary market today. According to the details of Ather Energy’s IPO date, available on the BSE website, the public issue will remain open until 30 April 2025. The company has fixed Ather Energy IPO price at ₹304 to ₹321 per equity share. On Friday, electric two-wheeler (E2W) maker Ather Energy Ltd said it had mobilized ₹1,340 crore from anchor investors. The company’s shares are available in the grey market ahead of the subscription opening. According to market observers, Ather Energy IPO GMP (Grey Market Premium) today is ₹3.
Ather Energy IPO details
Here we list out the top 10 Ather Energy IPO details that you may like to know:
1] Ather Energy IPO GMP: According to market observers, shares of the company are available at a premium of ₹3 on the grey market today.
2] Ather Energy IPO price: The Company has a fixed price band for the public issue, at ₹304 to ₹321 per equity share.
3] Ather Energy IPO date: The public issue has opened today and will remain open until 30 April 2025.
4] Ather Energy IPO allotment date: The likely date for share allotment is 1 May 2025. However, due to the stock market holiday falling on 1 May 2025, the finalization of the share allotment may be extended for one day, and the Ather Energy IPO allotment may be announced on 2 May 2025.
5] Ather Energy IPO size: The book-build issue combines fresh shares with offers for sale (OFS). The EWS company aims to raise ₹2,981.06 crore from this book-build issue, of which ₹354.76 crore is reserved for the OFS route.
6] Ather Energy IPO lot size: A bidder can apply in lots, and one log of the book build issue comprises 46 Ather Energy shares.
7] Ather Energy IPO registrar: Link Intime India Private Limited has been appointed official registrar of the book build issue.
8] Ather Energy IPO lead managers: Axis Capital, HSBC Securities, JM Financial, and Nomura Financial Advisors have been appointed lead managers of the public issue.
9] Ather Energy IPO listing date: The most likely date for the public issue listing is 6 April 2025, which is Tuesday next week.
Ather Energy IPO: Apply or not?
10] Ather Energy IPO review: Giving a ‘buy’ tag to the public issue, Arihant Capital said, “Ather Energy is strongly positioned in India’s fast-growing electric two-wheeler market, backed by its early-mover advantage, premium product positioning, and a robust in-house R&D and technology ecosystem. The company’s recent launches, like the Ather Rizta, have helped expand its customer base. Its upcoming Factory 3.0 will significantly increase production capacity from 420,000 to 1.42 Mn units by FY27, while ongoing cost-cutting and R&D investments are expected to improve margins further. Management expects industry-wide E2W sales in India to grow at around 41–44% CAGR until FY31. Ather aims to tap into this by growing its product range, reducing costs through localization and new battery technologies, and increasing software monetization opportunities. While reducing government subsidies has been a challenge, the company has managed to improve its profitability metrics and reduce subsidy dependence. At the upper band of INR 321, the issue is valued at an EV/sales ratio of 8x, based on a 9MFY25 Sales of INR 15,789 Mn. We recommend a “Subscribe for listing gain” rating for this issue.”
Ventura Securities has also recommended a ‘subscribe’ tag to the public issue, saying, “We recommend you subscribe for listing gains. Its premium focus, Ather Grid, and R&D-driven innovation differentiate it from competitors. The company is going through major capex with its Ather Factory 3.0 (will have 10 Lakhs unit capacity by mid-FY26). This comes despite challenges such as subsidy cuts and low capacity utilization.”
However, Astha Jain, Senior Research Analyst at HEM Securities, has suggested investors wait for the listing of the public issue, saying, “Company is bringing the issue at a price band of ₹304-321 per share at p/s multiple of approx. 4x on FY25E sales basis. It can pioneer new technologies. Its E2Ws are positioned at a premium price in their respective segments in the E2W market. We are quite optimistic about Ather Rizta, which will help the company gain market share and increase the gross margin. Focus on quality, innovation & R&D are also the company’s key differentiators. However, we find valuations to be almost in line with the company’s close peer and therefore seems to be fully priced at the current level,” adding, “We also believe that issue’s premium listing to some extent will also depend on market mood & macro situation at that time. Therefore, we feel that it can be risky to apply for an issue in the present environment & hence, we recommend waiting till listing before deploying funds in this IPO.”
Disclaimer: The views and recommendations above, if any, are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
