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News18
30-04-2025
- Business
- News18
Ather Energy IPO Receives 1.39x Subscription On Day 3 So Far; Check GMP Today
Last Updated: Unlisted shares of Ather Energy Ltd are currently trading at Rs 322 apiece in the grey market, which is just 0.31 per cent premium over the upper IPO price of Rs 321. Ather Energy IPO: The initial public offering of Ather Energy Ltd, which is going to be closed today at 5 pm, has received subdued investor interest so far. Till 3:04 pm on the final day of bidding on Wednesday, the Rs 2,981-crore IPO received a 1.39 times subscription garnering bids for 7,11,83,758 shares as against 5,11,22,370 shares on offer. The retail and NII participation stood at 1.73 times and 0.62 times, respectively. The QIB category, which comprises mutual funds and pension funds, has received a 1.66 times subscription so far. The Ather Energy IPO was opened for public subscription on Monday (April 28) and will be closed today, Wednesday. The price band of the IPO has been fixed at Rs 304 to Rs 321 apiece. Ather Energy IPO GMP According to market observers, unlisted shares of Ather Energy Ltd are currently trading at Rs 322 apiece in the grey market, which is just 0.31 per cent premium over the upper IPO price of Rs 321. It indicates a flat or negative return for investors on May 6, the tentative listing date. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Ather Energy IPO: Analysts' Recommendation Most brokerage firms have recommended to subscribe for the IPO for the long term. Several brokerages advised only well-informed investors with surplus funds to consider Ather's IPO for a long-term horizon. According to Bajaj Broking, the company has been experiencing consistent losses and has significant accumulated deficits. Its financial performance has led to a negative Price-to-Earnings (PE) ratio, and borrowings were over Rs 1,121 crore as of December 31, 2024, which raises concerns. Nonetheless, the company's strong parentage is a key advantage. Given the current financial situation, Bajaj Broking considers this a long-term investment and advises only well-informed investors with surplus funds to consider Ather's IPO for a long-term horizon. Ventura Securities has given a 'Subscribe for listing gains' rating, noting Ather Energy's premium focus, Ather Grid, and innovation-driven R&D as differentiators from its competitors. The company is undergoing significant capital expenditure with its Ather Factory 3.0, which aims to reach 10 lakh units by mid-FY26, despite challenges like subsidy cuts and low-capacity utilisation. About Ather Energy Ather Energy Limited, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development. Ather Energy's Financials As of December 31, 2024, the company's assets stood at Rs 2,172 crore, up from Rs 818.6 crore in March 2022. Revenue increased from Rs 413.8 crore in FY22 to Rs 1,617.4 crore in the nine months ended December 2024, indicating strong sales momentum. However, the company continues to report losses, with a net loss of Rs 577.9 crore for the nine-month period ending December 2024, compared to a loss of Rs 1,059.7 crore in FY24 and Rs 864.5 crore in FY23.
India Today
29-04-2025
- Business
- India Today
Ather Energy IPO Day 2: Check latest subscription details, GMP and key dates
Ather Energy's IPO is off the blocks, but it is still looking for some real momentum. The electric two-wheeler maker opened its Rs 2,981 crore public offering for subscription on Monday, April 28, and by the morning of Day 2, it had managed to scrape together 17% subscription. Retail investors have shown a bit more life, subscribing nearly 69% of their portion, but overall, the response so far has been is still time though. The IPO will remain open till April 30, giving investors a couple more days to weigh their options. Ather's offering is a combination of fresh shares and an offer-for-sale from existing investors. Notably, even before the subscription window opened, Ather managed to rope in Rs 1,340 crore from anchor investors, a vote of confidence from large institutions who typically set the tone for public price band for the IPO is set between Rs 304 and Rs 321 per share. For retail investors, a minimum application would mean putting up around Rs 14,000 if they are bidding at the lower end of the band. Given the competition and the tendency for oversubscription in buzzy issues, most experts suggest bidding at the cutoff price to improve chances. Employees of the company are also getting a small sweetener, with a Rs 30 per share For those who have already put in their bids and are nervously waiting, the basis of allotment is likely to be finalised by May 2. If all goes to plan, Ather Energy's shares should make their market debut on May 6, on both the NSE and GMPIn the grey market, however, enthusiasm remains muted. The grey market premium, or GMP, for Ather Energy's shares is hovering at just Re 1 above the issue price, suggesting that at least as of now, a massive listing pop is OR NOT?Investors are clearly weighing the potential of Ather's brand and product pipeline against some undeniable red flags. Brokerage views are Broking has advised caution, noting that while Ather is expanding aggressively — including with a major new manufacturing facility in Maharashtra — it continues to post significant of December 2024, its borrowings stood at over Rs 1,100 crore. They believe only well-informed, high-risk investors with a long investment horizon should consider applying, and even then, with moderate the other hand, Ventura Securities has a more optimistic take. They see Ather's strong positioning in the premium EV segment, its fast-expanding charging infrastructure and a robust innovation pipeline as reasons to bet on the company for potential listing also highlight that the upcoming mega facility, Ather Factory 3.0, could be a game changer, boosting production capacity to one million units by Garg from the Lemonn Markets desk echoed a note of caution, suggesting that only aggressive investors with a stomach for risk should consider subscribing. He pointed to the intense competition in the EV space, persistent losses and a lack of visible near-term profitability as major overhangs.(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.)
Mint
29-04-2025
- Business
- Mint
Ather Energy IPO day 2 Live Updates: GMP, subscription status, date, price to review. Apply or not?
Ather Energy IPO day 2: The initial public offering (IPO) of Ather Energy Limited opened for bidders on 28 April 2025. According to details related to Ather Energy IPO date of subscription available on the BSE website, the public issue will remain open until 30 April 2025. The company has fixed the Ather Energy IPO price at ₹ 304 to ₹ 321 per equity share. The E2W (Electric Two Wheeler) company aims to raise ₹ 2,981.06 crore from its initial offer, which is a mix of fresh shares and offer for sale (OFS). According to Ather Energy IPO subscription status, the issue has received a normal response on day one of bidding, with 16% subscribed to its public offer. Meanwhile, following the bull trend on Dalal Street, the grey market has remained steady on Ather Energy IPO. According to market observers, Ather Energy IPO GMP (Grey Market Premium) today is unchanged at ₹ 3 per share. After the end of bidding on day one, he book build issued had been subscribed 0.16 times, the retail portion had been booked 0.63 times, the NII portion had been filled 0.16 times, and the employee's reserved quota had been filled 1.78 times. Assigning a 'subscribe' tag to the public issue, Bajaj Capital says, 'Ather Energy IPO is a pure-play electric vehicle (EV) company specializing in the sale of electric two-wheelers (E2Ws), batteries, and other related products. It 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 ₹ 1121 crore as of December 31, 2024, which is a point of concern. However, the company benefits from strong parentage, which remains its key strength. 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.' Infographic: Courtesy mintgenie Ventura Securities has also recommended a 'subscribe' tag to the public issue, saying, "We recommend you subscribe for listing gains. Its premium focus, Ather Grid, and R&D-driven innovation differentiate it from competitors. The company is going through major capex with its Ather Factory 3.0 (will have 10 Lakhs unit capacity by mid-FY26). This comes despite challenges such as subsidy cuts and low capacity utilization." Highlighting the valuations of the book build issue, SMC Global says, 'The company is loss making , at the higher band of Rs. 321, we are considering the P/B ratio, pre issue, book value of Rs. 3.72 of P/Bvx 86.39x. Post issue, book value of Rs. 73.41 of P/Bvx 4.37x. At the lower band of Rs. 304 , we are considering the P/B ratio, pre issue, book value of Rs. 3.72 of P/Bvx 81.81x. Post issue, book value of Rs. 73.41 of P/Bvx 4.14x.' Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 29 Apr 2025, 08:37 AM IST
India Today
28-04-2025
- Business
- India Today
Ather Energy IPO: Should you subscribe or not?
Ather Energy Limited's much-anticipated initial public offering (IPO) opened for subscription on Monday, breaking a two-month dry spell for mainboard listings. The public issue will remain open for bidding until April IPO is a book-built offer worth Rs 2,980.76 crore, comprising a fresh issue of 8.18 crore equity shares valued at Rs 2,626.30 crore and an offer for sale (OFS) of 1.11 crore shares aggregating Rs 354.76 price band for the issue has been fixed at Rs 304 to Rs 321 per share. Retail investors can bid for a minimum of one lot, consisting of 46 shares, requiring an investment of at least Rs 13,984. However, to boost allotment chances in case of heavy oversubscription, investors are advised to bid at the cut-off price, taking the application amount to approximately Rs 14,766. Small non-institutional investors (sNIIs) will need to apply for a minimum of 14 lots (644 shares), amounting to Rs 2,06,724, while big non-institutional investors (bNIIs) will need to bid for at least 68 lots (3,128 shares), translating to a minimum investment of Rs 10,04, in 2013, Ather Energy designs, manufactures, and sells electric two-wheelers (E2Ws) along with battery packs, charging infrastructure, and connected software solutions. The company operates through a vertically integrated model and places a strong emphasis on product innovation and technology YOU SUBSCRIBE?advertisementOpinions among brokerages are divided. Bajaj Broking Research advised caution, highlighting the company's persistent losses and accumulated debt.'Ather is expanding aggressively, including setting up a new facility in Maharashtra. However, it continues to post losses, reflected in its negative price-to-earnings ratio. Borrowings, standing at over Rs 1,121 crore as of December 31, 2024, are also a concern," Bajaj Broking added that only well-informed investors with a high-risk appetite and a long-term investment horizon should consider subscribing — and even then, Securities, however, took a more optimistic view. "We recommend subscribing for potential listing gains," Ventura said, pointing to Ather's premium product positioning, extensive charging network (Ather Grid), and innovation-driven R&D also noted that despite challenges like subsidy cuts and low capacity utilisation, Ather's upcoming mega factory — Ather Factory 3.0, which will boost capacity to 1 million units by mid-FY26 — could be a game Garg from the Lemonn Markets Desk said that aggressive, long-term investors could consider subscribing only if they have a high-risk appetite, given the overhang of consistent losses and fierce competition. "'Subscribe only if you have a high-risk appetite as losses and competition are big overhangs," he he advised conservative investors to avoid or watch from the sidelines, given the absence of profitability in the near future and the company's aggressive pricing strategy. 'Avoid or watch from the sidelines. No profitability in sight and aggressive pricing.'WHAT DOES GMP INDICATE?As of April 28, 2025, the grey market premium (GMP) for Ather Energy's IPO stood at Rs 0. With the upper end of the price band at Rs 321, the estimated listing price is expected to mirror the issue price, suggesting no immediate listing gains based on the latest GMP for the IPO is likely to be finalised on May 2, with shares expected to list on BSE and NSE on May 6, 2025.(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.)
India Today
28-04-2025
- Business
- India Today
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 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 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 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 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, 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 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 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 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, 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.)
