India’s electric vehicle (EV) revolution continues to gain momentum, and Bengaluru-based Ather Energy is at the forefront with its Initial Public Offering (IPO) launched in April 2025. With a focus on premium electric scooters and a vision for nationwide expansion, Ather’s IPO is one of the most anticipated in India’s EV sector.
In this blog, we’ll explore the Ather Energy IPO date, price band, subscription status, valuation, and what investors need to know before investing.
🔍 Ather Energy IPO 2025 Overview
- IPO Open Date: April 28, 2025
- IPO Close Date: April 30, 2025
- Price Band: ₹304 – ₹321 per share
- Lot Size: 46 shares (Minimum investment ~₹14,766)
- Total Issue Size: ₹2,981 crore
- Fresh Issue: ₹2,626 crore
- Offer for Sale (OFS): ₹355 crore
- Listing Date: May 6, 2025
- Stock Exchange: BSE & NSE
- Lead Book-Running Managers: Axis Capital, JM Financial, HSBC, and Nomura
📉 Reduced Valuation Reflects Market Conditions
Originally aiming for a $2.5 billion valuation, Ather Energy revised its IPO target to approximately $1.4 billion in response to changing market dynamics. The company scaled down the offer size, particularly in the OFS portion, indicating a realistic and investor-friendly approach.
Notably, Hero MotoCorp, which holds a 40% stake in Ather, chose not to sell any shares in the IPO—signaling long-term confidence in the brand.
📊 Ather IPO Subscription Status (As of Day 2)
- Overall Subscription: 16%
- Retail Investors: 63% subscribed
- Employee Category: 1.78x oversubscribed
- QIB (Qualified Institutional Buyers): Limited participation so far
Grey Market Premium (GMP) for Ather Energy shares remains modest at ₹1–₹3, indicating cautious optimism among investors.
💼 How Ather Plans to Use IPO Proceeds
Ather Energy plans to deploy the raised capital strategically across the following areas:
- Manufacturing Expansion: New production plant in Maharashtra
- Debt Repayment: Strengthening financials
- R&D Investment: Enhancing EV technology and product innovation
- Marketing & Corporate Needs: Boosting brand and operational capabilities
⚡ Ather Energy: A Key Player in India’s EV Market
Founded in 2013 and launching its first scooter in 2018, Ather Energy has become a household name in India’s premium electric two-wheeler space. Despite facing stiff competition from Ola Electric, TVS, and Bajaj, Ather continues to grow steadily.
Recent launches, including the family-oriented Ather Rizta, have helped increase revenue by 28% and narrow losses in the first nine months of FY2025.
✅ Should You Invest in Ather Energy IPO?
✔ Pros:
- Strong brand recall and loyal customer base
- Backing by Hero MotoCorp
- Growing EV demand in India
- Expanding manufacturing capacity and product line
⚠ Cons:
- Not yet profitable
- Competitive EV market
- Low initial subscription by QIBs
- Limited GMP
📌 Tip: Investors with a long-term view on India’s electric mobility future may consider participating, but only after evaluating personal risk appetite and financial goals.
📢 Final Thoughts
The Ather Energy IPO offers a unique opportunity to invest in one of India’s leading EV innovators. As the country accelerates its transition to sustainable transport, companies like Ather are set to play a pivotal role.
Stay updated on IPO allotment status, listing gains, and post-IPO performance by bookmarking this blog.
