Shares of Ather Energy declined nearly 35 in trade on Tuesday, July 21, after the Bengaluru-based electric two-wheeler manufacturer concluded its fundraise via the qualified institutional placement (QIP) issue. The leading E2W maker has successfully closed its QIP raising Rs 1,300 crore. Amid a weak market sentiment on global cues, the stock traded lower after the QIP issue concluded. The QIP fundraise witnessed a strong demand from institutional investors.
Shares of Ather Energy opened at Rs 1,302.70 against a previous close of Rs 1,296.70. However, the stock pared gains and declined nearly 3% to hit an intraday low of Rs 1,257.10 apiece on the NSE. The stock last traded 1.45% lower at Rs 1,277.90 apiece on the NSE. This compares to a drop of 0.25% in the Nifty 50 benchmark. The stock has risen over 7% in one week, 33% in one month, 75% on a year-to-date basis, and mulitbagger 282% in the last one year.
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Ather Energy Share Price Intraday
Here is a breakdown of the key transactional details and the major institutional investors who anchored the issue.
Ather Energy QIP Issue Highlights, Pricing
Through this QIP, Ather Energy has successfully allotted 1.08 crore (1,08,15,307) new equity shares to eligible institutional buyers. The shares were issued at a price of Rs 1,202 per equity share. This issue price represents a premium over the QIP's floor price of Rs 1,169.70, signaling robust institutional appetite despite a discount to the company's prevailing secondary market share price at the time of the issue's launch.
The Rs 1,300 crore capital injection bolsters Ather's equity base, reducing its reliance on debt and providing the financial runway needed to invest in research, development, and new manufacturing capacities. With this allotment, the company's paid-up equity share capital has increased significantly to over Rs 39.41 crore.
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Marquee Allottees
The QIP attracted heavy interest from top-tier domestic mutual funds and global foreign institutional investors, with the issue reportedly being oversubscribed more than eight times. The successful closing of this Rs 1,300 crore QIP arrives at a pivotal moment for Ather Energy. The company has been aggressively expanding its footprint, rolling out its new family scooter lineup (the Ather Rizta), and continuing to build out the Ather Grid-its fast-charging infrastructure network.
Major allottees who secured over 5% of offered shares in Ather Energy QIP
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