Ather Energy's ₹2,981 cr IPO sees 1.43 times subscription on final day
The ₹2,981-crore initial public offering (IPO) of
Ather Energy
was subscribed 1.43 times on the final day of bidding on Wednesday, according to BSE data as of 7 PM. Investors placed bids for 7.65 crore shares in the issue, compared with the 5.33 crore shares on offer by the company.
The qualified institutional buyers' (QIBs) portion of the electric two-wheeler company's issue was subscribed 1.7 times, while the non-institutional investors' (NIIs) or high-net-worth individuals' portion and the retail investors' portion were subscribed 0.66 times and 1.78 times, respectively. The employee reserved portion was subscribed 5.43 times.
Ather Energy's issue was the first IPO of FY26, and also the first in two months since the listing of
Quality Power Electrical Equipments
' ₹859-crore offering in February. "Despite this interest, listing gains are expected to be modest, largely due to stretched valuations and a less supportive market environment compared to October 2024.
Similar to Ola's IPO, a post-listing rally remains possible if momentum builds after the debut," said Gaurav Garg at Lemonn Markets Desk. The IPO, which opened for public subscription on Monday, was priced in the range of ₹304-321 per share. The offer included a fresh issue of ₹2,626 crore and an offer for sale of ₹354.7 crore.
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