Ather Energy Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹304 - ₹321
- Lot size
- 46 shares
- Issue amount
- ₹2,980.76 cr
- Total subscription
- 1.5×
- Opens
- 28 Apr 2025
- Closes
- 30 Apr 2025
- Allotment
- 2 May 2025
- Listing
- 6 May 2025
Offer at a glance
Issue overview
- Issue size
- 9,28,58,599 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹13,984
- Fresh issue
- ₹2,626 cr
- Offer for sale
- ₹354.76 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,766
- Issue type
- Bookbuilding IPO
- Shares before issue
- 29,06,43,469
- Shares after issue
- 37,24,50,322
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 46 | ₹14,766 |
| sHNI | 14 | 644 | ₹2,06,724 |
| bHNI | 68 | 3,128 | ₹10,04,088 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 2,01,669 | 2,65,732 |
| HNIs(10L +) | 14,405 | 479 |
| HNIs (2-10L) | 7,202 | 3,655 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 893.36 | 1,574.84 |
| RETAIL | 297.79 | 555.77 |
| HNIs 2+ | 148.89 | 89.42 |
| HNIs 10+ | 297.79 | 219.62 |
| EMPLOYEES | 3.21 | 17.42 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | -23 | -47 | -48 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | -535 | -194 | -141 |
| PRE IPO(PE) | 0 | -8.8 | 0 |
| POST IPO(PE) | 0 | 0 | -15.52 |
Values and labels as reported in the issue data.
Company information
Company profile
Ather Energy Limited, incorporated in 2013, is an electric two-wheeler manufacturer in India that designs and builds electric scooters, battery packs, fast-charging infrastructure, and software systems in-house. Known for its premium, software-led products, Ather offers connected features through its Atherstack platform and supports users with the Ather Grid fast-charging network. The company sold around 1.09 lakh electric scooters in FY24 and manufactures at its Hosur plant in Tamil Nadu, which has an annual capacity of 4.2 lakh EVs. With a large retail and service presence in India, Nepal, and Sri Lanka, Ather continues to grow its brand and technology, supported by a strong IP portfolio.
Strengths
- Proprietary Tech Advantage: Own smart tech, touch dashboards, live diagnostics & OTA updates give Ather a strong competitive edge.
- Premium Brand Positioning: Strong brand recall in India’s EV space with growing consumer trust & expanding presence.
- Charging Infra Strength: Ather Grid charging network improves charging access, supporting adoption & boosting customer confidence.
Risk factors
- Limited Product Range: Heavy reliance on e-scooters makes revenue vulnerable to shifts in demand & consumer preferences.
- Supply Chain Risk: Dependence on batteries, chips & other key parts — any global shortage/cost spike can impact production.
- High Competition: EV space is crowded with new + established players; pricing pressure & innovation by rivals may reduce market share.
Promoters
Tarun Sanjay Mehta
Swapnil Babanlal Jain
HMCL
Registrar & documents
Lead manager
Axis Capital Limited, Hsbc Securities & Capital Markets Private Limited, Jm Financial Limited, Nomura Financial Advisory, Securities (India) Private Limited, Securities (India) Private Limited, Securities (India) Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
3 rd Floor, Tower D, IBC Knowledge Park, #4/1 Bannerghatta Main Road, Bangalore 560029, Karnataka, India
+91 80 6646 5750
[email protected]Company website ↗Understanding ATHERENERG IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.