Ather Energy IPO: Ather Energy Ltd’s initial public offering (IPO) is a book-built issue offering investors a fresh issuance of equity shares worth ₹2,626 crore along with an offer-for-sale (OFS) component of 1.1 crore equity shares. The two-wheeler EV maker’s public issue opened for bidding on Monday, April 28, and is set to close on Wednesday, April 30.
The Ather Energy IPO subscribed 16 per cent on the first day of the public bidding, where investors subscribed for 86,16,674 or 86.16 lakh shares out of the 5,33,63,160 or 5.33 crore shares on offer.
The retail investor segment was the largest subscription segment on Day 1, coming in at 63 per cent bidding, followed by the Non-Institutional Investors (NIIs), who subscribed 16 per cent to the EV scooter company’s IPO. According to the data collected from the BSE website, the Qualified Institutional Buyers (QIBs) did not subscribe to the public issue on the first day.
On Friday, April 25, Ather Energy raised ₹1,340 crore from anchor investors ahead of the public issue opening for the public. The EV maker has fixed its price band for the IPO in the range of ₹304 to ₹321 per share.
Ather Energy IPO GMP
As of April 28, the grey market premium (GMP) for the Ather Energy IPO was at ₹1 per share. The GMP increased to its current level after the first day of public bidding.
Grey market premium is the investors’ willingness to pay more for a public issue. With the upper price band of the IPO at ₹321, the shares are expected to be listed higher at ₹322, a premium of 0.31 per cent, according to InvestorGain.com data.
Ather Energy Brokerage Insights
Some brokerages expect that the Ather Energy IPO is a long-term bet for investors, while others emphasise investing in the public issue for the listing gains on Tuesday, May 6, 2025.
“Considering its current financials, this appears to be a long-term investment story, and therefore, only well-informed investors with surplus funds and a long-term perspective may consider investing moderately,” said analysts from the brokerage firm Bajaj Broking.
Analysts at Ventura Securities recommended investing in the public issue for listing gains, highlighting concerns over subsidy cuts and low capacity utilisation.
“At the upper band of ₹321, the issue is valued at a EV/sales ratio of 8x, based on a 9MFY25 Sales of ₹15,789 Mn. We are recommending a ‘Subscribe for listing gain’ rating for this issue,” said the analysts at Arihant Capital.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
