Ather Energy IPO opens for bidding: Should you subscribe? Check latest GMP
The initial public offering (IPO) of Ather Energy Limited will open for bidding on Monday, marking the first mainboard IPO after a gap of two months. The public listing will remain open for subscription until April 30.Ather Energy IPO is a book-built issue worth Rs 2,980.76 crore. It includes a fresh issue of 8.18 crore shares aggregating to Rs 2,626.30 crore, and an offer for sale (OFS) of 1.11 crore shares worth Rs 354.76 crore.The price band for the IPO has been set between Rs 304 and Rs 321 per share. Retail investors need to apply for a minimum of one lot, which consists of 46 shares.The minimum investment required is Rs 13,984. However, it is advised that investors bid at the cutoff price, making the amount around Rs 14,766 to increase their chances of allotment in case of oversubscription.For small non-institutional investors (sNII), the minimum investment is 14 lots or 644 shares, which amounts to Rs 2,06,724. For big non-institutional investors (bNII), the minimum application is 68 lots or 3,128 shares, amounting to Rs 10,04,088.Ather Energy Limited, established in 2013, designs, develops, and assembles electric two-wheelers (E2W) along with battery packs, charging stations, and software systems. The company follows a vertically integrated model and is heavily focused on product and technology development.SHOULD YOU SUBSCRIBE?Bajaj Broking Research said that Ather Energy is in the process of expanding its manufacturing capacity by setting up a new unit in Maharashtra."Despite its growth initiatives, the company has been consistently posting losses and carries significant accumulated losses. Its financial performance has resulted in a negative Price-to-Earnings (PE) ratio, and its borrowings stood at over Rs 1,121 crore as of December 31, 2024, which is a point of concern. However, the company benefits from strong parentage, which remains its key strength," said Bajaj Broking Research."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," Bajaj Broking Research added. On the other hand, Ventura Securities Limited gave a different view."We recommend subscribe for listing gains. Its premium focus, Ather Grid and R&D driven innovation differentiates it from competitors. Company is going through major capex with its Ather Factory 3.0 (will have 10 lakh unit capacity by mid FY26). This comes despite challenges such as subsidy cuts and low-capacity utilization," said Ventura Securities Limited.LATEST GMPAs of April 28, 2025, the last reported grey market premium (GMP) for the Ather Energy IPO is Rs 0. With the price band set at Rs 321, the estimated listing price is expected to be around Rs 321 as well. This suggests a 0.00% expected gain or loss on listing based on today's GMP.Allotment for the Ather Energy IPO is expected to be finalised on Friday, May 2, 2025. The shares are likely to be listed on BSE and NSE on Tuesday, May 6, 2025.advertisement(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
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