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The Ather Energy IPO will remain open for public subscription between April 28 and April 30, and the price band has been fixed in the range of Rs 304 to Rs 321 apiece.
Ather Energy IPO.
Ather Energy IPO: E-scooter maker Ather Energy will launch its initial public offering (IPO) on April 28, which will be concluded on April 30. The price band of the 2,980.76-crore IPO has been fixed in the range of Rs 304 to Rs 321 per share.
The anchor bidding will begin on April 25, becoming the first major mainboard IPO of the financial year 2025-26.
Ather Energy IPO: Key Dates
The Ather Energy IPO will remain open for public subscription between April 28 and April 30. Its allotment will likely take place on May 2, while the listing is scheduled to take place on May 6.
Ather Energy IPO: Lot Size
A lot will comprise a total of 46 shares. So, retail investors need at least Rs 13,984 of investment to apply for the IPO. At the upper band, the amount is Rs 14,766.
For small non-institutional investors (small NIIs), the minimum investment required is Rs 2,06,724 for 14 lots. However, the amount is Rs 10,04,088 for big NIIs.
Ather Energy IPO: IPO Size
Ather Energy has cut the size of its fresh equity raising to Rs 2,626 crore, which is lower than its earlier plan of raising nearly Rs 3,100 crore. Existing investors, including founders Tarun Mehta and Swapnil Jain, and Singapore’s GIC and Tiger Global also slashed the number of shares they will sell by half.
The Tiger Global-backed company’s IPO comprises a fresh issue of 8.18 crore shares aggregating to Rs 2,626 crore and an offer for sale (OFS) of 1.11 crore shares aggregating to Rs 354.76, according to its prospectus.
Ather Energy IPO: Other Details
Ather Energy reported a narrower loss of Rs 578 crore in the nine months ended December, from Rs 776 crore a year ago, due to increased sales of its electric family scooter Rizta, which was launched in 2024.
The company plans to use the IPO proceeds for funding its new factory in the western state of Maharashtra, as well as for research and development, repayment of debt, marketing, and general corporate purposes.
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 of the Ather Energy IPO, while Link Intime India Private Ltd is the registrar for the issue.
India’s top motorcycle maker Hero MotoCorp is the largest shareholder in Ather with a stake of around 40 per cent. The company will not sell shares in the IPO.
Ather was one of the first companies to sell e-scooters in India in 2018, but its sales trail that of larger rivals Ola Electric, TVS Motor and Bajaj Auto.
Its valuation will be lower than larger rival Ola Electric’s, which has a market capitalisation of $2.7 billion.
Ather, whose scooters are among the costliest on offer in India’s 1.14-million-units-a-year electric two-wheeler market, is counting on its ‘Rizta’ family scooters to help narrow the gap with rivals while a newer vehicle platform is expected to reduce costs.
‘Rizta’ sales led to a narrower loss and a 28 per cent rise in revenue for Ather in the nine months to December 2024.
(With Inputs From Agencies)
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