Ather Energy IPO
IPO Listing Details
- Listing Date
06 May 2025
- Listing Price
₹326.05
- Listing Change
1.57%
- Last Traded Price
₹344.00
IPO Details
-
Open Date
28 Apr 2025
-
Close Date
30 Apr 2025
-
Listing Date
06 May 2025
- IPO Price Range
₹ 304 to ₹ 321
- IPO Size
₹ 2980.76 Cr
- Listing Exchange
BSE, NSE
IPO Timeline
Ather Energy IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 28-Apr-25 | 0.00 | 0.17 | 0.69 | 0.17 |
| 29-Apr-25 | 0.00 | 0.28 | 1.20 | 0.30 |
| 30-Apr-25 | 1.76 | 0.69 | 1.89 | 1.50 |
Last Updated: 16 May 2025 10:24 AM by 5paisa
Ather Energy, a leading Indian electric two-wheeler company, is launching its ₹2,980.76 crore IPO. Known for its in-house design and assembly of EVs, battery packs, and charging infrastructure, Ather sold over 107,000 E2Ws in FY24. With a vast presence across India, Nepal, and Sri Lanka, its ecosystem includes Ather Grid and Atherstack. Manufacturing happens in Hosur. Ather owns 549 IP assets globally and employs 2,454 people as of March 2024.
Established in: 2013
CEO: Mr. Tarun Mehta
Peers
Hero MotoCorp Limited
Bajaj Auto Limited
Ola Electric Mobility Limited
TVS Motors Limited
Eicher Motors Limited
Objectives
1. Capex for E2W factory setup in Maharashtra.
2. Partial/full repayment of company borrowings.
3. Investment in research and development.
4. Marketing expenditure.
5. General corporate purposes
Ather Energy IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹2,980.76 Cr. |
| Offer For Sale | ₹354.76 Cr. |
| Fresh Issue | ₹2,626.00 Cr. |
Ather Energy IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | 13,984 |
| Retail (Max) | 13 | 598 | 181,792 |
| S-HNI (Min) | 14 | 644 | 195,776 |
| S-HNI (Max) | 67 | 3,082 | 936,928 |
| B-HNI (Min) | 68 | 3,128 | 950,912 |
Ather Energy IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 1.76 | 2,78,30,383 | 4,90,60,472 | 4,90,60,472 |
| NII (HNI) | 0.69 | 1,39,15,192 | 96,25,914 | 308.992 |
| Retail | 1.89 | 92,76,795 | 1,75,20,158 | 562.397 |
| Total** | 1.50 | 5,11,22,370 | 7,67,49,068 | 2,463.645 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Ather Energy IPO Anchor Allocation
| Anchor Bid Date | 25 April, 2025 |
| Shares Offered | 4,17,45,576 |
| Anchor portion Size (In ₹ Cr.) | 1,340.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | 1 June, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | 31 July, 2025 |
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | 413.8 | 1801.8 | 1789.1 |
| EBITDA | -25.5 | -68.7 | -64.9 |
| PAT | -344.1 | -864.5 | -1059.7 |
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Total Assets | 818.6 | 1,976.8 | 1,913.5 |
| Share Capital | 24,144 | 24,164 | 24,164 |
| Total Borrowings | 298.4 | 485.2 | 314.9 |
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | -228.4 | -871.3 | -267.6 |
| Net Cash Generated From / (used in) investing activities | -6.6 | -135.0 | -228.1 |
| Net Cash Generated From / (used in) financing activities | 230.7 | 131.7 | 633.2 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -4.3 | 311.1 | 137.5 |
Strengths
1. Ather was one of the first to launch smart electric scooters in India, giving it an early lead.
2. It has built a wide charging network with over 2,500 points in 230+ cities.
3. Its scooters are known for premium design, strong build, and tech features.
4. Ather invests heavily in R&D, especially in battery and software systems.
Weaknesses
1. The company is still not profitable due to high costs.
2. It mainly operates in big cities, with less presence in smaller towns.
3. Its scooters are priced higher, which may not suit all buyers.
4. Brand awareness is limited compared to bigger rivals like Ola or Hero.
Opportunities
1. India’s EV market is growing fast due to rising fuel prices and eco-awareness.
2. Ather can expand to more countries after entering Nepal and Sri Lanka.
3. Its software platform can create recurring income through subscriptions.
4. Supportive government policies can boost demand further.
Threats
1. Competition is rising from both old and new EV companies.
2. Changes in government subsidies could impact sales.
3. Expansion and R&D need a lot of money, which adds financial pressure.
4. New battery and EV technologies could make current models outdated.
1. Pioneering Brand in EV Space: Ather Energy is one of the leaders in India's electric two-wheeler market, offering innovative and high-quality electric scooters with features like fast charging and smart diagnostics.
2. Financial Backing: The company plans to use the funds raised from the IPO for expanding production capabilities, repaying debts, and investing in R&D, strengthening its financial position.
3. Rising Demand for EVs: With the increasing shift towards electric mobility, Ather is well-positioned to benefit from the growing demand for electric two-wheelers, supported by government incentives and environmental awareness.
4. Expansion and Global Growth: Ather’s expansion into smaller Indian cities and international markets like Nepal and Sri Lanka provides additional growth potential, diversifying its revenue streams.
1. The Indian electric two-wheeler market grew 33% in FY 2023
2. E2W penetration reached 5.1% in FY 2024 and could rise to 35–40% by FY 2031.
3. Growth is driven by rising fuel costs, government incentives like FAME II, and increasing environmental awareness.
4. The Indian EV market is expected to grow at a CAGR of 30–35% over the next decade.
5. Ather Energy stands out with premium electric scooters and smart features.
6. The company plans to expand into smaller cities and towns.
7. Ather is focused on innovation and new technologies.
8. The main challenge is competition from more affordable mass-market players.
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FAQs
Ather Energy IPO opens from 28 April 2025 to 30 April 2025.
The size of Ather Energy IPO is ₹2,980.76 Cr.
The price of Ather Energy IPO is fixed at ₹304 to ₹321 per share.
To apply for Ather Energy IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Ather Energy IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Ather Energy IPO is 46 shares and the investment required is ₹13,984.
The share allotment date of Ather Energy IPO is 2 May 2025
The Ather Energy IPO will likely be listed on 6 May 2025.
Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, JM Financial Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers for Ather Energy IPO.
Ather Energy plans to utilise the raised capital from the IPO for:
1. Capex for E2W factory setup in Maharashtra.
2. Partial/full repayment of company borrowings.
3. Investment in research and development.
4. Marketing expenditure.
5. General corporate purposes
Contact Information
Ather Energy
Ather Energy Limited
3 rd Floor, Tower D, IBC Knowledge Park,
#4/1 Bannerghatta Main Road,
Bangalore 560029, Karnataka, India
Phone: +91 80 6646 5750
Email: cs@atherenergy.com
Website: http://www.atherenergy.com/
Ather Energy IPO Register
Link 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 Lead Manager
Axis Capital Limited
HSBC Securities & Capital Markets Pvt Ltd
JM Financial Limited
Nomura Financial Advisory And Securities (India) Pvt Ltd
