Ather Energy IPO GMP, Last Date, Allotment, Subscription Status and All Details
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Ather Energy launched its Initial Public Offering (IPO) on April 28, 2025. The subscription window will remain open till April 30, 2025. This IPO is a Book Built Issue, through which the company plans to raise approximately ₹2,980 crores. Out of this, about ₹2,626 crores will come from fresh issuance of shares, while the rest will be through an Offer for Sale (OFS) of 1,10,51,746 equity shares.
The price band for the Ather Energy IPO has been fixed between ₹304 to ₹321 per share. After the allotment process, the shares are expected to be listed on the BSE and NSE on May 5, 2025.
The allotment of shares will be finalized by May 1, 2025, and refunds will be initiated on May 2, 2025, the same day when shares will be credited to investors’ demat accounts.
Ather Energy IPO Overview
- IPO Opening Date: April 28, 2025
- IPO Closing Date: April 30, 2025
- Face Value: ₹1 per equity share
- Price Band: ₹304 to ₹321 per share
- Total Issue Size: ₹2,980.73 crores
- Fresh Issue Size: Approximately ₹2,626 crores
- Offer for Sale: Around 11,051,746 equity shares
- Issue Type: Book Built Issue
- Listing Exchange: BSE and NSE
- Retail Investor Quota: Up to 10%
- Qualified Institutional Buyers (QIB) Quota: Up to 75%
- Non-Institutional Investors (NII) Quota: Up to 15%
- Draft Red Herring Prospectus (DRHP): Click Here
- Red Herring Prospectus (RHP): Click Here
- Anchor Investors List: Click Here
Ather Energy IPO Market Lot Details
The minimum market lot for the Ather Energy IPO is 46 shares, requiring an investment of ₹14,766.
Retail investors can apply for up to 13 lots, totaling 598 shares and an amount of ₹1,91,958.
Here’s a breakdown of the application details:
| Application Type | Lot Size | Number of Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 46 | 14,766 |
| Retail Maximum | 13 | 598 | 1,91,958 |
| S-HNI Minimum | 14 | 644 | 2,06,724 |
| B-HNI Minimum | 68 | 3,128 | 10,04,088 |
Ather Energy IPO Key Dates
The Ather Energy IPO will open for subscription on April 28, 2025 and close on April 30, 2025. The allotment of shares will be finalized by May 1, 2025, with refunds processed and shares credited to Demat accounts by May 2, 2025. The shares will be listed on the BSE and NSE on May 5, 2025.
Here’s a quick overview of the IPO timeline:
- IPO Open Date: April 28, 2025
- IPO Close Date: April 30, 2025
- Basis of Allotment: May 1, 2025
- Refunds: May 2, 2025
- Credit to Demat Account: May 2, 2025
- IPO Listing Date: May 5, 2025
Promoters of Ather Energy IPO
The promoters behind Ather Energy are Tarun Sanjay Mehta, Swapnil Babanlal Jain, and Hero MotoCorp Limited.
About Ather Energy IPO
Ather Energy is a leading name in India’s electric two-wheeler (E2W) market. The company specializes in designing and manufacturing electric scooters, battery packs, charging stations, and related software and accessories. Ather is recognized for its innovation and leadership in the electric mobility sector.
Focused on local innovation and sustainability, Ather designs all its products in India. The company is committed to manufacturing battery packs and assembling E2Ws in-house, ensuring high quality and creativity in its offerings. Notably, Ather Energy is the first electric two-wheeler manufacturer in India to establish a fast-charging network, branded as Ather Grid. To date, the company has sold 109,577 electric scooters.
Ather Energy IPO Financial Overview
Ather Energy reported a revenue of ₹1,789.1 crores in 2024, slightly lower than ₹1,801.8 crores in 2023. The company faced a loss of ₹1,059.7 crores in 2024, compared to a loss of ₹864.5 crores in 2023.
Financial Summary (₹ in Crores)
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2022 | ₹413.8 | ₹757.9 | ₹344.1 | ₹818.6 |
| 2023 | ₹1,801.8 | ₹2,666.3 | ₹864.5 | ₹1,976.8 |
| 2024 | ₹1,789.1 | ₹2,674.2 | ₹1,059.7 | ₹1,913.5 |
| December 2024 | ₹1,617.4 | ₹2,195.3 | ₹577.9 | ₹2,172 |
Ather Energy IPO Valuation – FY2024
Here are the key valuation metrics for Ather Energy’s IPO for FY2024:
| KPI | Value |
|---|---|
| ROE (Return on Equity) | –1.83% |
| ROCE (Return on Capital Employed) | -118.68% |
| EBITDA Margin | –36% |
| PAT Margin | –59% |
| Debt to Equity Ratio | 0.88 |
| Earnings Per Share (EPS) | –₹47 (Basic) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | –194% |
| Net Asset Value (NAV) | ₹24 |
Peer Group Comparison
Here’s a comparison of Ather Energy with its peers based on key financial metrics:
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Hero MotoCorp Limited | ₹187 | 30 | 21% | ₹884 | ₹37,788.6 Cr. |
| Bajaj Auto Limited | ₹273 | 40 | 29% | ₹935 | ₹44,870.4 Cr. |
| Ola Electric Mobility Limited | –₹4 | N/A | –78% | ₹6 | ₹5,009.8 Cr. |
| TVS Motors Limited | ₹36 | 78 | 26% | ₹143 | ₹39,144.7 Cr. |
| Eicher Motors Limited | ₹146 | 33 | 22% | ₹657 | ₹16,535.8 Cr. |
Objects of the Issue
The funds from the issue will be utilized for the following purposes:
- Capital expenditure for setting up an electric two-wheeler (E2W) manufacturing facility in Maharashtra, India.
- Repayment or pre-payment (in full or part) of certain borrowings.
- Investment in research and development.
- Marketing and promotional activities.
- General corporate purposes.
Ather Energy IPO Review
- IPO Watch – May Apply
- Arihant Capital – Apply
- Bajaj Capital – May Apply
- Capital Market – Neutral
- SMC Global – Neutral
- Ventura Securities – Apply
Ather Energy IPO Registrar
Registrar: MUFG Intime India Private Limited
Phone: +91 81 0811 4949
E-mail: atherenergy.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers (Merchant Bankers)
- Axis Capital Limited
- HSBC Securities and Capital Markets (India) Private Limited
- JM Financial Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Company Address
Ather Energy Limited
3rd Floor, Tower D, IBC Knowledge Park
#4/1 Bannerghatta Main Road
Bangalore 560 029
Karnataka, India
Phone: +91 80 6646 5750
Email: cs@atherenergy.com
Website: www.atherenergy.com
Ather Energy IPO FAQs
When will Ather Energy IPO open for subscription?
The IPO will open on April 28, 2025, for QIB, NII, and retail investors, and will close on April 30, 2025.
What is the Ather Energy IPO investor portion?
The investor portion for the Ather Energy IPO is allocated as follows:
- QIB (Qualified Institutional Buyers): 75%
- NII (Non-Institutional Investors): 15%
- Retail Investors: 10%
How to Apply for Ather Energy IPO
You can apply for the Ather Energy IPO through ASBA (Application Supported by Blocked Amount) online using your bank account. Alternatively, you can apply through UPI via your stockbroker. For offline applications, you can fill out a form through your stockbroker.
What is the Size of the Ather Energy IPO?
The Ather Energy IPO has a total issue size of ₹2,980 crores.
What is the Price Band for Ather Energy IPO?
The Ather Energy IPO price band is set between ₹304 and ₹321 per share.
What is the Lot Size for Ather Energy IPO?
The minimum lot size for the Ather Energy IPO is 46 shares, with a total investment amount of ₹14,766.
When is the Ather Energy IPO Allotment Date?
The allotment date for the Ather Energy IPO is May 1, 2025.
When is the Ather Energy IPO Listing Date?
The listing date for the Ather Energy IPO is May 5, 2025. It will be listed on both the BSE and NSE.
