Latest news with #AtherEnergyLtd
Mint
6 days ago
- Automotive
- Mint
Bajaj Auto turns to light magnets as EV output slumps 50% in July
New Delhi: Bajaj Auto Ltd is using light rare earth magnets as an alternative to get production of electric 2- and 3-wheelers back on track, as manufacturing suffered in June and July due to a shortage of heavy rare earth magnets fuelled by China's curbs on exports. The management said on Wednesday that Bajaj's production of EV 2-wheelers will be 60% of the earlier planned output for the months of August and September, while 3-wheelers will see 75% of the planned output in the same period. 'Our production impairment started in June due to which our sales were also hit in Q1. Production was hit up to 50% in July,' Rakesh Sharma, executive director at Bajaj Auto Ltd, said at a media interaction after the release of April-June quarter results on Wednesday. As a result of the crisis, the company said it has delayed several launches of electric 2-wheelers which were planned in the July to September period. Sharma added that the Pune-based company has started moving towards light rare earth magnets from heavy rare earth magnets, which has helped in getting production back on track with situation improving month on month. Rare earth magnets are classified into light and heavy categories. While heavy rare earths have been restricted by China, light rare earth magnets continue to be exported. The heavier the magnet, the better the performance of the motor running the vehicle. Engineering teams of automakers are working on matching the performance using light rare earth magnets as companies have no visibility on resumption of heavy rare earth imports. 'We have no information from the government or suppliers when the flow of heavy rare earth magnets will resume,' Sharma said. After the Bengaluru-based Ather Energy Ltd, Bajaj becomes the second 2-wheeler maker to move towards light rare earth magnets. Earlier, company's managing director Rajiv Bajaj had said that August could be a zero-production month for its flagship Chetak EV 2-wheeler due to a shortage of rare earth magnets. On Monday, Ather's management told Mint that its dispatches to dealers will suffer an impact worth seven days of its volumes due to constraints on production in the second quarter. The commentary on production hits comes during the period in which festive season is expected to boost sales of vehicles as consumers loosen their purse strings. The country's third-largest 2-wheeler maker, TVS Motor Company, said last week that it is just able to manage 'day-to-day production' as it is currently exploring alternatives to limit the impact of rare earth magnet shortage. Despite the hiccups in the past few months, Bajaj Auto managed to post a 14% year-on-year rise in net profit to ₹ 2,210 crore in the June quarter, while revenue increased 11% to ₹ 13,642 crore. The rise in profits came on the back of expansion in consolidated operating margin to 21% from 20% last year due to a 14% growth in exports and rising average selling price of vehicles. The double-digit growth in exports to 419,447 units in the first quarter helped the company offset a 9% decline in domestic sales to 529,344 units. The average selling price of vehicles is higher compared to the domestic market. The management indicated that sales during the first quarter were hit due to the rare earth magnet crisis. 'The outlook on exports remains positive with expectation of 14-15% growth during the year,' Sharma told reporters. Moreover, Bajaj Auto's rival and the country's largest 2-wheeler manufacturer Hero MotoCorp also announced its results on Wednesday. Hero saw its net profit surge by 65% to ₹ 1,706 crore while its revenue slipped 0.3% to ₹ 10,037 crore during the first three months of the current financial year. The surge in profits came on the back of listing of its associate company Ather Energy Ltd, which resulted in a ₹ 722-crore gain due to dilution of stake in the company. 'Our profitability and margins remained resilient, supported by strong demand for our entry & deluxe motorcycles and 125cc scooter segments. We are witnessing good traction in our electric mobility business (VIDA), and global operations also remained ahead of industry, reflecting the strength of our brand in international markets,' Vivek Anand, chief financial officer, Hero MotoCorp, said in an earnings release. While TVS, Bajaj Auto, Ola Electric and Ather have provided updates about the rare earth magnet crisis, Hero has so far refrained from addressing the situation publicly. The discussions on the company's situation are expected to take centre stage during a call with investors on 7 August. Bajaj Auto shares closed 0.6% lower at ₹ 8,177 apiece on the BSE on Wednesday, while those of Hero MotoCorp slipped 1.5% to ₹ 4,474.50 each.
Mint
06-05-2025
- Automotive
- Mint
Ola Electric's Bhavish Aggarwal sends heartwarming message to rival Ather Energy on market debut: ‘Let's together make…'
As shares of electric two-wheeler making company Ather Energy Ltd debuted on the stock exchanges on Tuesday, its rival Ola Electric's founder Bhavish Aggarwal posted a heartwarming message on social media. In a post on X, Ola CEO Bhavish Aggarwal congratulated Ather Energy CEO Tarun Mehta and his company on reaching the milestone of being a listed company. 'Congrats to @tarunsmehta and the whole @atherenergy team on this milestone for the Indian EV industry,' Aggarwal said. He hoped to make India the global EV hub together with Ather and Ola Electric. 'Let's together make India the global EV hub.' Earlier in the day, Bhavish Aggarwal's Ola Electric also put a message for Ather Energy upon its stock exchange debut. 'The EV revolution was never meant to be solo. Welcome to the bourses @atherenergy! Let's go full throttle,' the company said in a post on X. Bhavish Aggarwal's message for Ather Energy received support from netizens, who were impressed with his positivity. 'EV journey was always supposed to be a collaborative effort. Good to see @OlaElectric and @Bhash praising @Atherenergy on their listing day,' a user commented. 'This is what it'll take; working together to put EV's ahead of ICE,' another added. 'Good luck both the companies! Let's change the way India drives! We definitely need a sustainable growth and you guys are pioneering that,' a third user said. Shares of electric two-wheeler maker Ather Energy Ltd on Tuesday listed with a premium of over 2 per cent against the issue price of ₹ 321. The stock started the trade at ₹ 326.05, up 1.57 per cent from the issue price on the BSE. At the NSE, it listed at ₹ 328, a premium of 2.18 per cent. Later during intraday trade, Ather Energy share price declined 6 per cent on the bourses. The Ather Energy IPO got subscribed 1.43 times on the closing day of bidding on Wednesday, backed by oversubscription in QIB and retail investor categories. The ₹ 2,981-crore Ather Energy IPO had a price band of ₹ 304-321 apiece. This was the first mainboard public issue of the current financial year 2025-26. The Ather Energy IPO was a combination of a fresh issue of equity shares worth ₹ 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders. This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its ₹ 6,145-crore IPO in August last year. First Published: 6 May 2025, 04:32 PM IST
News18
06-05-2025
- Business
- News18
Ather Energy Lists At 2% Premium: Should You Hold, Sell Or Buy?
Last Updated: Ather Energy's stock started the trade at Rs 326.05, up 1.57 per cent from the issue price on the BSE. Later, it climbed 3.70 per cent to Rs 332.90. Shares of electric two-wheeler maker Ather Energy Ltd on Tuesday listed with a premium of over 2 per cent against the issue price of Rs 321. The stock started the trade at Rs 326.05, up 1.57 per cent from the issue price on the BSE. Later, it climbed 3.70 per cent to Rs 332.90. At the NSE, it listed at Rs 328, a premium of 2.18 per cent. The company's market valuation stood at Rs 12,110.53 crore. Prashanth Tapse, senior vice-president (research) of Mehta Equities Ltd, said, 'As expected, we see a flat listing, which was justified, as the issue was aggressively priced, especially when benchmarked against peer OLA Electric. We continue to believe the electric two-wheeler (EV 2W) segment remains highly competitive and capital-intensive, with most players, including market leaders, struggling to achieve sustainable profitability and raising concern with new investors." 'Given these facts and risks, we recommend a 'HOLD' only to risk taking investors, who are comfortable with short- to medium-term volatility while conservative investors may still prefer a wait-and-watch, allowing the stock to settle with some reasonable valuation post-listing," he added. Tapse said industry being in the high growth-high competition-high cash burning segment, there will be high volatility both in business as well as in the price action, hence investors should be aware of volatility and risk in short to medium term investing. In the equity market, the 30-share BSE benchmark gauge was trading 238.61 points lower at 80,549.43. The NSE Nifty was quoted 81.05 points down at 24,380.10. The Rs 2,981-crore initial share sale had a price band of Rs 304-321 apiece. This was the first mainboard public issue of the current financial year 2025-26. The initial public offering (IPO) was a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders. This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year. First Published: May 06, 2025, 11:19 IST
Mint
06-05-2025
- Business
- Mint
Ather Energy Share Price Live Updates: What GMP, experts signal about stock listing in stock market today?
Ather Energy Share Price Live Updates: Ather Energy shares are scheduled to debut on the Indian stock market today. The initial public offering (IPO) of the electric vehicle manufacturer Ather Energy Ltd concluded with moderate demand. The Ather Energy IPO listing date is set for today, May 6. The public offering was open for subscription from April 28 to April 30. The allocation for the Ather Energy IPO was completed on May 2. The listing date for Ather Energy's shares has been confirmed as May 6, Tuesday, and they will be available on both stock exchanges, BSE and NSE. The BSE announced that starting from Tuesday, May 6, 2025, the equity shares of Ather Energy Limited will be listed and permitted for trade on the exchange within the 'B' Group of Securities. Ather Energy shares will participate in the Special Pre-open Session (SPOS) on Tuesday, May 6, 2025, according to the notice, and trading will start at 10:00 AM. The electric two-wheeler manufacturer Ather Energy's initial public offer was subscribed 1.43 times on the final day of bidding on Wednesday, driven by strong oversubscription in the QIB and retail investor categories. The Ather Energy IPO consists of a fresh issuance of equity shares valued at ₹ 2,626 crore and an offer-for-sale of 1.1 crore equity shares from promoters and other stakeholders. At the highest end of the price range, the total IPO size is estimated at ₹ 2,981 crore, resulting in a company valuation of ₹ 11,956 crore. (Stay tuned for more updates) Follow updates here: 06 May 2025, 09:00 AM IST Ather Energy IPO 06 May 2025, 08:48 AM IST Ather Energy IPO was subscribed 1.43 times by the end of bidding on Wednesday, driven by strong interest from both qualified institutional buyers and retail investors. The Retail Individual Investors (RIIs) segment achieved a subscription rate of 1.78 times, while the Qualified Institutional Buyers (QIBs) portion was subscribed 1.70 times, despite a market volatility. The subscription rate for non-institutional investors stood at 66%, and the employee portion was booked 5.43 times. 06 May 2025, 08:35 AM IST Ather Energy IPO GMP today or grey market premium is +14. This indicates Ather Energy share price were trading at a premium of ₹ 14 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ather Energy share price was indicated at ₹ 335 apiece, which is 4.36% higher than the IPO price of ₹ 321. According to the analysis of the past 15 sessions of grey market activities, the IPO GMP is moving upward today, indicating a potential strong listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP reaches ₹ 17, as per the experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Bloomberg
06-05-2025
- Business
- Bloomberg
E-Scooter Maker Ather's Debut in Focus Amid India IPO Revival
Ather Energy Ltd. 's shares will start trading on Indian bourses Tuesday, in the nation's first major initial public offering this fiscal year that will provide clues on the likelihood of equity capital market revival. The electric scooter maker's offering of fresh and existing shares raised 29.8 billion rupees ($354 million) and was subscribed more than 1.4 times the amount offered, according to exchange filings. Priced at the top of the marketed range at 321 rupees per share, the IPO drew big-name anchor investors, including Abu Dhabi Investment Authority, Franklin Templeton and Eastspring Investments.
