Ather Energy Limited IPO
Mainboard2/3 Wheelers
Listed On: May 6, 2025 at ₹ 328.0(NSE)
₹ 14766 /46 Shares
Check Allotment28 Apr, 2025
Open Date30 Apr, 2025
Close Date02 May, 2025
Allotment Date06 May, 2025
Listing DateIssue Price
₹304-321 per equity shareFace Value
₹1 Per Equity ShareListing at Group
BSE, NSERegistrar
MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)List Price
328.0(NSE)Listing Date
2025-05-06Market Lot
Retail : 46 Shares (₹14,766/-)S-HNI : 644 Shares (₹2,06,724/-)
B-HNI : 3,128 Shares (₹10,04,088/-)
Lead Manager
Axis Capital LimitedHSBC Securities and Capital Markets (India) Private Limited
JM Financial Limited
Nomura Financial Advisory and Securities (India) Private Limited
Issue Size
Total ₹2980.76 Cr :#Fresh Issue : 8,18,06,853 shares(aggregating up to ₹2626.00 Cr) +
#OFS : 1,10,51,746 shares of ₹1(aggregating up to ₹354.76 Cr)
Retail Portion
10% (Number of Retail Applications: 2,01,669 Approx),(Number of S-HNI Applications : 7,202 Approx),
(Number of B-HNI Applications : 14,405 Approx)
Subscription
timesAther Energy IPO Details
Ather Energy IPO is a book-built issue of ₹2981.06 crores, The total issue size is ₹2981.06 crores. The IPO of Ather Energy is priced at ₹304-321 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Apr 28, 2025 and ends on Apr 30, 2025. The allotment for Ather Energy IPO will be finalized on May 2, 2025. Ather Energy IPO will be listed on BSE, NSE, with a tentative listing date fixed as May 6, 2025. The company shall list its equity shares on the BSE, NSE. MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar of the issue.
Retail investors can bid for a minimum of 46 shares, extendable to 14,766. S-HNIs will be able to bid for 644 shares at ₹2,06,724, while B-HNIs can also apply for a bid of 3,128 shares at ₹10,04,088. The book-running lead manager for the IPO is/are Axis Capital Limited , Hsbc Securities & Capital Markets Pvt Ltd , Jm Financial Limited , Nomura Financial Advisory And Securities (India) Pvt Ltd .
The total issue ₹2981.06 crore, comprising a fresh issue of 8,18,16,199 shares ₹2626.3 crore and an Offer for Sale (OFS) of 1,10,51,746 shares to mop up ₹354.76 crore.
The Ather Energy IPO sets its price band at 304-321 for each share. A single application for Ather Energy Limited IPO must contain at least 46 shares. Sentiment investors need to invest a minimum of 46 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,766 In order to participate in the sNII, investors must purchase at least 14 lots of 644 shares for ₹2,06,724, while the bNII requires 68 lots of 3,128 shares for an investment of ₹10,04,088.
Ather Energy IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | |
|---|---|---|---|---|
| Shares Offered / Reserved | 2,78,30,383 | 1,39,15,192 92,76,795 46,38,397 | 92,76,795 | N/A |
| Day 1 - 28-04-25 05:00 PM | 0.00 x | 0.16 0.18 x 0.11 x | 0.63 x | N/A x |
| Day 2 - 29-04-25 05:00 PM | 0.00 x | 0.27 0.29 x 0.22 x | 1.12 x | N/A x |
| Day 3 - 30-04-25 05:00 PM | 1.70 x | 0.66 0.70 x 0.57 x | 1.77 x | N/A x |
Ather Energy Valuations
EPS Pre IPO
-₹47.00/-EPS Post IPO
P/E Pre IPO
-8.80P/E Post IPO
-15.52RoNW
-194%Price to Book Value
Ather Energy Company Financials All values are in ₹ Cr.
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 1,913.5 | 1,976.8 | 818.6 |
| Revenue | 1,789.1 | 1,801.8 | 413.8 |
| Profit After Tax | -1,059.7 | -864.5 | -344.1 |
| Net Worth | 545.9 | 613.7 | 224.9 |
| Reserves & Surplus | 545.1 | 613.1 | 224.2 |
| Total Borrowing | 314.9 | 485.2 | 298.4 |
About The Company
The 2013-founded Ather Energy Limited operates as India's foremost electric two-wheeler (E2W) company that specifically produces electric scooters and battery packs and charging infrastructure and supporting software systems originating from their domestic assembly plants. Ather advances itself as the first manufacturer of premium electric mobility in India through its role as a vertically integrated EV producer that focuses on product and technology development.
The consumer base continues to grow for Ather given its delivery of 107983 electric two-wheelers within nine months of December 2024 and 109577 E2Ws for the complete Fiscal Year 2024.
The company operates 269 experience centers and 237 service centers in India together with 5 experience centers and 4 service centers in Nepal as well as 10 experience centers and 1 service center in Sri Lanka at the end of December 2024.
Ather’s product ecosystem includes:
Ather Grid–a public fast-charging network specifically for electric two-wheelers
Atherstack represents the proprietary software platform that offered 64 connected features during July 2024 because the company highlights its mission for smart connected mobility solutions.
The Ather manufacturing base operates from its Tamil Nadu Hosur Factory and reports 420,000 electric vehicle production capacity alongside 379,800 battery pack capacity per year at March 2024.
Innovation functions as the fundamental strategic component at Ather.
Ather Energy operates based on four essential strategic components which form the foundation of its operations:
Vertically integrated design and engineering
software-defined product ecosystem
Premium market positioning
Capital-efficient operations
The company Ather Energy employed 2454 people with 1458 on-roll staff and 996 off-roll workers who worked toward sustainable urban mobility innovation.
Ather Energy - Strength and Weakness
Invested ₹2,365 million in research and development in FY24, driving innovation.
Filed 273 patents and registered 291 trademarks globally till 2024.
Atherstack ecosystem earned 56% EBITDA in FY24, showing strong margins.
89% of customers opted for Atherstack, boosting software-driven revenues.
Ather has faced losses and negative cash flows since inception.
Limited operating history makes future business performance hard to predict.
Growth depends on rising demand for electric two-wheelers in India.
EV awareness and adoption in India remain relatively low till date.
Highly competitive market with strong legacy and new EV players.
Ather Energy - Promoter(s)
Pre Issue Share Holding: 52.67%
Post Issue Share Holding: 42.09%
- Tarun Sanjay Mehta
- Swapnil Babanlal Jain
- HMCL
Ather Energy IPO - Issue Objectives
- Capital expenditure to be incurred by our Company for establishment of an E2W factory in Maharashtra, India
- Repayment/ pre-payment, in full or part, of certain borrowings availed by our Company
- Investment in research and development
- Expenditure towards marketing initiatives
- General corporate purposes
Ather Energy IPO - Anchor Investors
Marquee investors such as SBI Mutual Fund, Aditya Birla Sun Life AMC, Franklin Templeton, Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund, Prudential Hong Kong, Eastspring Investments, Invesco India, and Morgan Stanley invested in the pure EV player through anchor book.
Among others, Aditya Birla Sun Life Insurance, Tocu Europe, Helios, ITI Mutual Fund, Tata Investment Corporation, Societe Generale, Subhkam Ventures, and BNP Paribas Financial Markets have also become promoters of the company by investing by way of anchor book.
The company in filing to exchanges revealed that it has completed allotment of 4.17 crore equity shares to anchor investors at Rs 321 per share.
Other Details
Ather Energy
3 rd Floor, Tower D, IBC Knowledge Park, #4/1 Bannerghatta Main Road, Bangalore 560029, KarnatakaLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: atherenergy.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Ather Energy IPO - FAQs
Ans. Ather Energy Limited IPO is a Mainboard IPO. The issue is priced at ₹304-321 per equity share. The minimum order quantity is 46 Shares. The IPO opens on Apr 28, 2025, and closes on Apr 30, 2025. MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Ans. The Ather Energy Limited IPO opens on Apr 28, 2025 and closes on Apr 30, 2025.
Ans. The size of Ather Energy Limited IPO is Total ₹2980.76 Cr : #Fresh Issue : 8,18,06,853 shares(aggregating up to ₹2626.00 Cr) + #OFS : 1,10,51,746 shares of ₹1(aggregating up to ₹354.76 Cr).
Ans. The IPO price band is set between ₹304-321 per equity share.
Ans. To apply for Ather Energy Limited IPO IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Ather Energy Limited IPO in the List of IPOs
- - Press "Apply" Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Ather Energy Limited IPO is May 2, 2025.
Ans. The Ather Energy Limited IPO will be listed on May 6, 2025.
Ans. Follow the steps to check the allotment status for Ather Energy Limited IPO here.
