Ather Energy IPO Closes Today: Subscription Status, GMP, and Listing Date Details

Ather Energy’s initial public offering (IPO) concludes today, April 30, after opening for subscription on April 28. The EV maker's Rs 2,981.06 crore IPO has seen a modest response so far. According to data from the National Stock Exchange (NSE), the IPO has been subscribed 35% as of 11:51 AM on the final day, with 1,86,76,644 shares bid against 5,33,63,160 shares on offer.

Among the different investor categories:

• Employee quota was the most active, subscribed 3.94 times.

• Retail investor portion saw a subscription of 1.36 times.

• Non-Institutional Investors (NIIs) subscribed 31% of their allocated shares.

• Qualified Institutional Buyers (QIBs) lagged behind, bidding for just 4,35,666 shares of the 2,89,27,363 reserved.

Ather Energy IPO Details: Price Band and Lot Size

The IPO consists of a combination of a fresh issue and an offer for sale (OFS), with existing shareholders and promoters offloading their stakes. The price band is set between Rs 304 to Rs 321 per share. Investors can apply in lots of 46 shares.

• Minimum investment at the upper price band (Rs 321) would be Rs 14,766 (for one lot).

• Maximum retail investment (13 lots or 598 shares) would require Rs 1,91,958.

Ather Energy GMP (Grey Market Premium) Today

As per grey market sources, Ather Energy’s unlisted shares were trading at Rs 322, reflecting a marginal premium of Re 1 or 0.31% over the upper IPO price band. While this suggests subdued listing gains, it still indicates some investor confidence in the company.

Brokerage Views: Should You Subscribe?

The Ather Energy IPO has received a mix of recommendations from analysts:

• Positive recommendations: Arihant Capital and Ventura Securities have advised subscribing for potential listing gains.

• Long-term investment calls: Geojit and Bajaj Broking recommend a long-term hold.

• Cautious view: Deven Choksey Research has advised avoiding the IPO, suggesting better valuations might be available post-listing in the secondary market.

IPO Allotment and Listing Dates

The share allotment is likely to be finalised on May 2, 2025. Those allotted shares can expect them to be credited to their demat accounts by May 5, 2025. The stock is scheduled to be listed on both BSE and NSE on May 6, 2025.

Use of IPO Proceeds

While proceeds from the OFS will go to selling shareholders, funds raised from the fresh issue will be used for the following:

• Capital expenditure for building an electric two-wheeler manufacturing facility in Maharashtra.

• Debt repayment and prepayment.

• Investment in R&D and marketing initiatives.

• General corporate purposes.

Lead Managers and Registrar

• Registrar: Link Intime India Pvt Ltd

• Lead Managers: Axis Capital, HSBC Securities & Capital Markets, JM Financial, Nomura Financial Advisory & Securities (India)

About Ather Energy

Ather Energy is a leading Indian electric two-wheeler company with a fully integrated ecosystem. It designs and develops electric vehicles, software, charging infrastructure, and smart accessories. The company ranked 4th in electric two-wheeler sales in India during the first nine months of FY25. Remarkably, 46% of its workforce is engaged in R&D, underscoring its innovation-led approach.