Ather Energy IPO Listing: Check Date, GMP, Predicted Share Price And More

The initial public offering (IPO) of Ather Energy Ltd. was open for subscription from April 28 to April 30. The Bengaluru-based electric two-wheeler manufacturer sought to raise Rs 2,980.76 crore through the public offer. With the bidding period now closed and allotments finalised, the Ather Energy IPO is all set to make debut on the BSE and the National Stock Exchange (NSE).

Shares of Ather Energy Ltd. are scheduled to be listed on the stock exchanges on Tuesday, May 6.

The mainboard IPO was open for subscription from April 28 to April 30. Following the closure of subscription window, the company finalised the allotment of shares on May 2. Refunds for unsuccessful applicants were initiated on May 5. On the same day, the shares were also credited to the Demat accounts of successful applicants.

The IPO of the electric vehicle pure-play company was subscribed 1.43 times on the third day of bidding. On its first day, the IPO was subscribed 16%, and by the second day, it saw a subscription of 28%.

The Ather Energy IPO — a bookbuilding offering — included a fresh issue of shares worth Rs 2,626 crore, along with an offer-for-sale (OFS) component amounting to Rs 354.8 crore. The IPO price band was fixed between Rs 304 and Rs 321 per share.

As of May 5, at 10:37 am, the Grey Market Premium (GMP) for the Ather Energy IPO stood at Rs 7 per share. With the upper end of the IPO's price band set at Rs 321, the latest GMP indicates an estimated listing price of Rs 328 per piece for the Ather Energy shares. Based on this, the expected percentage gain per share is around 2.18%.

Note: GMP is not an official source of data and is based on speculation.

Ather Energy Ltd. is a manufacturer of electric two-wheelers. It offers a complete ecosystem of products that includes software, charging infrastructure and smart accessories, all of which are developed and designed in-house.

In addition to producing its own battery packs, portable chargers and motors, the company also designs key components for its electric two-wheelers, such as motor controllers, transmissions, vehicle control units, dashboards, DC-DC converters, harnesses and chassis. These components are then outsourced to suppliers for manufacturing.

For the nine months ending Dec. 31, 2024, and the entire financial year 2023-2024, Ather Energy sold 1.07 lakh and 1.09 lakh electric two-wheelers, respectively.

Ather Energy plans to use the net proceeds from its IPO for various purposes. These include capital expenditure for establishing an electric two-wheeler (E2W) manufacturing facility in Maharashtra, India, and the repayment or pre-payment, either in full or part, of certain outstanding borrowings. Additionally, the company intends to invest in research and development, allocate funds towards marketing initiatives and cover general corporate expenses.

For the first nine months of FY25, Ather Energy reported a revenue from operations of Rs 1,578.9 crore, reflecting a 28.30% increase compared to Rs 1,230.4 crore in the same period of FY24. Despite this, Ather Energy continued to operate at a loss. The e-scooter manufacturer reported a net loss of Rs 577.9 crore for the first nine months of FY25. In comparison, the company recorded losses of Rs 1,059.7 crore in FY24 and Rs 864.5 crore in FY23.

As of Feb. 28, 2025, the company's total debt stood at Rs 533.6 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.