Initial public offer of leading EV pure play firm Ather Energy Ltd. achieved a subscription of 17% on day one of biding on April 28, 2025. The grey market premium or GMP of Ather Energy stood at Re 1, as per latest reports available via InvestorGain.com. Category of retail individual investors today bid for 63.98 lakh shares as the portion subscribed 0.69x or 69% on first day, nil times in QIB (Qualified Institutional Buyers) category, and the NII (Non-Institutional Investors) category subscribed 0.17 times or 17%. Meanwhile, the employee category has been booked 1.84x on Monday. Check key details below:
Ather Energy IPO Latest GMP
The latest GMP of the public issue stood at Re 1. Considering the price of Rs 321.00 per share, the likely listing price of Ather Energy IPO is Rs 322 with the expected percentage of gain or loss per share at 0.31%.
Ather Energy IPO Key Details
The 3-day subscription window of Ather Energy will come to an end on April 30, 2025. Shares will list on BSE and NSE with listing date set as May 6, 2025. The likely date of allotment stood as May 2, 2025 with initiation of refunds date fixed as May 5, 2025. Credit of shares to Demat will take place on May 5, 2025.
Ather Energy Price Band
The price band of Ather Energy has been fixed as Rs 304 to Rs 321 apiece. Meanwhile, the minimum lot size application is 46. Minimum amount of investment needed by retail investors stood at Rs 13,984. However, it is advised that investors should ideally bid at the cutoff price to eliminate the situation of oversubscription that is approximately Rs 14,766. The minimum lot size investment for SNII remains at 14 lots or 644 shares worth Rs 2,06,724. For BNII, it is 68 lots or 3,128 shares worth Rs 10,04,088, as per details available at Chittorgarh.com.
Ather Energy is a book building of Rs 2,981.06 crore. It consists of a fresh issue of 8.18 crore shares worth Rs 2,626.30 crore and offer for sale of 1.11 crore worth Rs 354.76 crore. Earlier, the public issue opened for subscription on Monday i.e. April 28, 2025. Allotment of Ather Energy is expected to be finalized on May 2, 2025. It consists of reservation of approximately 100000 shares for employees provided at the discount of Rs 30.00 to issue price.
Book Running Lead Manager
The book running lead manager of the public issue includes Axis Capital Limited, JM Financial Limited, HSBC Securities & Capital Markets Pvt Ltd, Nomura Financial Advisory And Securities (India) Pvt Ltd. On the other hand, the registrar of Ather Energy IPO is Link Intime India Private Ltd.
Geojit Suggests Subscribe
Brokerage firm Geojit Investments recommended “subscribe” rating for high risk investors as it faces profitability and valuation concerns. The analyst said, at upper price band of Rs 321, its enterprise value to its sales ratio of 7.1x (FY24) looks expensive adding, “However, as a pioneer in the E2W segment, the company is in a strong growth phase with robust R&D and new technological platforms.”
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