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Updated May 5th 2025, 16:58 IST
Ather Energy IPO: Latest GMP, Listing Date, And What to Expect On Debut Day
The basis of allotment was finalized on Friday, May 2. Investors who received allocations will have their shares credited to demat accounts by May 5.
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Bengaluru-based EV startup Ather Energy is set to list on the Indian stock exchanges on Tuesday, May 6, 2025. The Hero MotoCorp-backed firm’s Initial Public Offering (IPO), held from April 28 to April 30, received a moderate yet steady response, with an overall subscription of 1.43 times.
IPO Structure and Subscription Details
The IPO comprised a mix of fresh equity worth Rs 2,626 crore and an Offer for Sale (OFS) involving 1.1 crore shares by existing shareholders. The price band was set at Rs 300–Rs 321 per share.
A detailed breakdown of the subscription shows a 1.78x response from retail investors, 1.70x from qualified institutional buyers (QIBs), and a relatively muted 0.66x from non-institutional investors (NIIs). Interestingly, the employee quota saw robust interest, recording a 5.43x subscription rate.
Grey Market Sentiment
As of Monday, the grey market premium (GMP) for Ather Energy stood at Rs 7 per share, indicating an expected listing price of around Rs 328—just 2.18% above the upper end of the IPO price band of Rs 321. While modest, this slight premium reflects cautious optimism amid broader market volatility and mixed investor sentiment toward recent listings.
IPO Allotment and Listing Readiness
The basis of allotment was finalized on Friday, May 2. Investors who received allocations will have their shares credited to their demat accounts by May 5. Refunds for non-allottees are also being processed. Ather Energy will list on both the NSE and BSE tentatively on May 6.
Fund Utilisation
The company stated that the IPO proceeds from the fresh issue will be used to scale up manufacturing capacity, expand its retail footprint through new experience centers, and invest in R&D for next-generation electric mobility solutions. Specifically, Rs 927.2 crore will be invested in setting up a new EV manufacturing plant in Maharashtra , while another Rs 50 crore is earmarked for research and development focused on innovation and product upgrades to maintain its competitive edge.
About Ather Energy
Founded in 2013 by IIT Madras graduates Tarun Mehta and Swapnil Jain, Ather Energy has positioned itself as a pioneer in India’s electric mobility landscape. Its flagship products—Ather 450X and Ather 450S—have reinforced the company’s standing in the fast-growing electric two-wheeler market.
Market Outlook
Industry observers suggest that while Ather’s strong brand appeal and technological edge offer promising growth potential, investors should closely monitor its post-listing performance, unit economics, and execution of its expansion roadmap.
Published May 5th 2025, 15:36 IST