Ather Energy is set to launch its IPO on 28 April and the subscription window will open until 30 April. The company aims to raise ₹2,980.76 crore through this public offering. The price band for the Ather Energy IPO has been fixed between ₹304 – ₹321. The IPO is expected to list on the NSE, BSE platforms on 6 May.
Ather Energy IPO About
Ather Energy, founded in 2013, is an Indian company that makes electric two-wheelers. It handles everything from designing and developing electric scooters and battery packs to assembling them in-house. The company also builds its own charging infrastructure and software systems. Ather follows a vertically integrated approach, focusing strongly on both its products and technology.
As of 31 December 2024, Ather had built a wide network of physical locations. In India it has 265 experience centres and 233 service centres. Outside India, the company operated 5 experience centres and 4 service centres in Nepal, along with 10 experience centres and 1 service centre in Sri Lanka.
Ather’s product ecosystem includes Ather Grid, a public fast-charging network for electric two-wheelers. It also runs Atherstack, a proprietary software platform that powers its scooters with 64 connected features as of July 2024.
The company manufactures its products at its Hosur factory in Tamil Nadu. As of March 2024, this facility could produce 420,000 electric vehicles and 379,800 battery packs each year.
Globally, as of 28 February 2025, Ather Energy held 303 registered trademarks, 201 registered designs, and 45 registered patents. Additionally, it had filed applications for 102 more trademarks, 12 designs, and 303 patents.
Ather’s overall business strategy is built on four key pillars: vertically integrated design and engineering, a software-defined product ecosystem, premium positioning in the market, and capital-efficient operations.
As of 31 March 2024, the company employed 2,454 people in total. This included 1,458 on-roll employees and 996 off-roll staff.
Ather Energy IPO Highlights
- Ather Energy’s IPO is valued at ₹2,980.76 Cr crores and the price band is set between ₹304 to ₹321.
- In the IPO, 8.18 crore new shares will be issued to raise ₹2,626 crore, while 1.11 crore existing shares will be sold via OFS by current shareholders, bringing in ₹354.76 crore.
- Ather Energy’s IPO will open for subscription on 28 April 2025 and close on 30 April 2025. The share allotment is likely to take place on 2 May 2025 and the shares are expected to be listed on BSE and NSE on 6 May 2025.
- Promoters currently hold 52.67% of the company but after the IPO, their shareholding will come down to 42.09%.
- The funds will be used to set up an E2W factory in Maharashtra, to repay some of the company’s borrowings and for general corporate purposes. Link Intime India will be the registrar for Ather Energy IPO.
Ather Energy IPO GMP
As of 24 April 2025, Ather Energy’s IPO is trading at a grey market premium (GMP) of ₹10. With the IPO’s upper price band set at ₹321, the estimated listing price is around ₹331 indicating a potential gain of about 3.12% per share. Grey market premium (GMP) is the price at which shares are being traded unofficially before listing and GMP keeps changing until the listing date.
So, stay tuned with Trade Target for daily updates on Ather Energy IPO GMP and expected listing price.
- Date: 24 – April- 2025
- Ather Energy GMP: ₹331 (3.12%)
How can one apply for Ather Energy IPO?
Retail investors can apply for minimum of 1 lot, which includes 46 shares costing ₹14,766. The maximum investment allowed for retail investors is 13 lots which totals 598 shares and costs ₹1,91,958.
For Small High Net Worth Individuals or S-HNIs, minimum application is for 14 lots (644 shares) costing ₹2,06,724, while maximum is 67 lots (3,082 shares) costing ₹9,89,322.
For Big High Net Worth Individuals or B-HNIs, minimum investment starts from 68 lots, amounting to 3,128 shares and costing ₹10,04,088.
Below is a table summarizing the lot sizes and required amounts for each investor category:
| Application | Lots | Shares | Amount |
|---|---|---|---|
|
Retail (Min) |
1 |
46 |
₹14,766 |
|
Retail (Max) |
13 |
598 |
₹1,91,958 |
|
S-HNI (Min) |
14 |
644 |
₹2,06,724
|
|
S-HNI (Max) |
67 |
3,082 |
₹9,89,322 |
|
B-HNI (Min)
|
68 |
3,128 |
₹10,04,088 |
Ather Energy IPO Financial
As of 31 March 2024, Ather Energy had total assets worth ₹1,913.5 crore and revenue of ₹1,789.1 crore. However, the company reported a net loss of ₹1,059.7 crore for the year. Over the last three years, Ather’s revenue has grown from ₹413.8 crore in FY22 to nearly ₹1,800 crore in FY24 but losses have also increased. This shows strong revenue growth but continued pressure on profitability.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
|
Assets in (₹ Crores) |
1,913.5 |
1,976.8 |
818.6 |
|
Revenue (₹ Crores) |
1,789.1 |
1,801.8 |
413.8 |
|
PAT (₹ crores)
|
-1,059.7 |
-864.5 |
-344.1 |
|
Net Worth (₹Cr) |
545.9 |
613.7 |
224.9 |
|
Reserves and Surplus(₹Cr) |
545.1 |
613.1 |
224.2 |
|
Total Borrowing (₹ crores)
|
314.9 |
485.2 |
298.4 |
Ather Energy IPO Vs Peers
| Company | EPS Diluted | P/E(x) | P/BV Ratio |
|---|---|---|---|
|
Ather Energy Limited |
-47 |
– |
– |
|
Hero MotoCorp Ltd. |
187 |
20 |
4.21 |
|
Bajaj Auto Ltd. |
273 |
29 |
8.43 |
|
Ola Electric Mobility Ltd. |
-4 |
– |
8.83 |
|
TVS Motor Company Ltd. |
36 |
68 |
16.92 |
|
Eicher Motors Ltd. |
146 |
37 |
– |
Ather Energy IPO Quota Allocation
- QIB Investors: 75% of the net issue
- Retail Investors: 10% of the net issue
- NII (HNI) Investors: 15% of the net issue
Listing Date of Ather Energy IPO
- Subscription Period: 28 April to 30 April 2025
- Basis of Allotment Finalization: 2 May 2025
- Initiation of Refunds: 5 May 2025
- Demat Credits: 5 May 2025
- Listing Date: 6 May 2025
- Listing on: NSE, BSE
Frequently Asked Questions
What is the total issue size of Ather Energy’s IPO?
The total size of Ather Energy’s IPO is ₹2,980.76 crore.
When will the Ather Energy IPO open and close?
Ather Energy’s IPO will open for subscription on 28 April 2025 and close on 30 April 2025.
What is the lot size for the Ather Energy IPO?
Investors can bid for a minimum of one lot, which includes 46 shares. Based on the price, one lot will cost around ₹14,766.
When is the share allotment for the Ather Energy IPO?
The allotment of shares is expected to be completed by 2 May 2025.
Who is the registrar of Ather Energy IPO?
Link Intime India Private Ltd is the official registrar for Ather Energy’s IPO.
Where will Ather Energy shares be listed?
The shares are planned to be listed on both BSE and NSE.
Happy investing and thank you for reading!
Disclaimer:
This website content is only for educational purposes, not investment advice. Before making any investment, it’s important to do your own research and be fully informed. Investing in the stock market includes risks, and you should carefully read the Risk Disclosure documents before proceeding. Please remember that past performance doesn’t guarantee future results, and due to market fluctuations, your investment goals may not always be achieved.
