Ather Energy Share Price: Modest 2% Premium On IPO Debut, Falls Short Of Grey Market Hopes

Ather Energy Share Price: Ather Energy's Initial Public Offering (IPO), the first major listing of the 2025-26 financial year, made a lukewarm debut on the Indian stock market on May 6, 2025.

The company, which set its issue price at Rs 321 per share, saw its shares list with a modest 2% premium on the National Stock Exchange (NSE) at Rs 328.

On the Bombay Stock Exchange (BSE), Ather Energy shares debuted slightly lower at Rs 326.05, reflecting a 1.57% premium over the issue price.

Before the stock’s debut, the grey market had signalled a more optimistic outlook.

Ather Energy’s Grey Market Premium (GMP) was Rs 14, which suggested that shares were expected to trade at Rs 335, a 4.36% premium over the issue price.

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However, the stock's performance on listing was less than expected.

Shortly after the market opened, Ather Energy shares started to lose their initial gains. By 10:50 AM, the stock turned negative, with its price slipping on both major exchanges. On the NSE, shares were down 1.33%, trading at Rs 323.65, while on the BSE, the stock saw a 0.8% dip, falling to Rs 323.45.

Ather Energy IPO Details

Ather Energy's Rs 2,981 crore IPO was open for bidding until Wednesday and received an overall subscription of 1.43 times.

It attracted strong interest from different investor categories, with Retail Individual Investors subscribing 1.78 times, Qualified Institutional Buyers 1.70 times, and Non-Institutional Investors subscribing 66%.

The IPO was priced in a range of Rs 304 to Rs 321 per share. Before the issue was opened to the public, Ather Energy raised Rs 1,340 crore from anchor investors.

This IPO is also notable as it is the first mainboard public issue of the financial year 2025–26. 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 centres, 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.