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Ather Energy IPO day 2 update; subscription lags at 21%, GMP at ₹ 1
Ather Energy IPO subscription status: The initial public offering (IPO) of Electric Vehicle maker Ather Energy, which opened for subscription on April 28, has seen a muted response from the investors so far. Notably, this is the first mainline public offering of fiscal year 2025-26 (FY26). Ather Energy IPO subscription status at 11 AM on Day 2 Ather Energy IPO has been subscribed 21 per cent as of 11:03 AM on Tuesday, April 29. According to NSE data, the employee quota received the highest participation, being oversubscribed by 2.39 times. Retail investors subscribed to 85 per cent of the portion reserved for them, while non-institutional investors (NIIs) subscribed 18 per cent. Meanwhile, qualified institutional buyers (QIBs) placed bids for only 5,060 shares against the 2,89,27,363 shares reserved for them. Ather Energy IPO day 1 subscription status According to the data available on the NSE, ₹2,981.06 crore offering has received the bids for 86,09,406 equity shares, against 5,33,63,160 on sale, leading to subscription of 16 per cent by the end of the first day, April 28.
Among the individual categories, quota reserved for the employees received the highest participation and got booked by 1.78 times. Retail investors subscribed their category reserved to them by 63 per cent, Non-institutional investors (NIIs) 16 per cent, and Qualified institutional buyers (QIBs) has only placed the bids for 5,060 against 2,89,27,363 reserved for them.
Ather Energy IPO details
The public offering which comprises both a fresh issue as well as an offer for sale (OFS), is available at a price band of ₹304 - ₹321 per share, and the lot size is 46 shares. Accordingly, investors can bid for a minimum of 46 shares and in multiples thereof.
At the upper price band, a retail investor will require a minimum of ₹14,766 to bid for one lot of 46 shares, and ₹1,91,958 to bid for a maximum of 13 lots or 598 shares. A Small-high net worth individual (HNI) can bid for a minimum of 14 lots or 644 shares of Ather Energy IPO with an amount of ₹2,06,724, and a maximum of 67 lots or 3,082 shares with ₹9,89,322.
Ather Energy IPO grey market premium (GMP)
The unlisted shares of Ather Energy were trading at around ₹322 per share in the grey markets, revealed the sources tracking unofficial market activities. This reflects a grey market premium (GMP) of ₹1 or 0.31 per cent over the upper end of the issue price.
Should you subscribe to the Ather Energy IPO?
Brokerages broadly remain optimistic on the long-term prospects of Ather Energy. Analysts at Arihant Capital, and Ventura Securities both have recommended investors to subscribe the Ather Energy IPO for listing gains. Meanwhile, Geojit, and Bajaj Broking have recommended to subscribe for long-term. Deven Choksey Research, on the other hand, has recommended the investors to avoid the public offering and said that it can be bought at an attractive valuation in the secondary market. READ MORE
Ather Energy IPO allotment date, listing date
The public offering will remain available for subscription till April 30, 2025. The basis of allotment of the Ather Energy IPO shares is expected to be finalised tentatively on May 2, 2025. The successful investors will receive the company's shares on Monday, May 5, 2025. ALSO READ |
Shares of Ather Energy are scheduled to list on the NSE and BSE tentatively on May 6, 2025.
Ather Energy IPO objective
Ather Energy will not receive any proceeds from the OFS. The company, however, proposes to use the proceeds from the fresh issue for capital expenditure to be incurred for the establishment of an E2W factory in Maharashtra, India. The company will further use the proceeds for repayment/pre-payment, in full or part, of certain borrowings availed, investment in research and development, expenditure towards marketing initiatives, and general corporate purposes.
Ather Energy IPO registrar, BLRM details
For the public offering, Link Intime India acts as the registrar, while Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are the book-running lead managers.
About Ather Energy
Ather Energy is a pure-play EV company, engaged in the design, development, and sale of E2Ws, complemented by an integrated ecosystem comprising in-house developed software, charging infrastructure, and smart accessories. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development.
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