Bookbuilding IPO | ₹2,981 Cr | Listed at BSE, NSE | Mon, Apr 28, 2025 - Wed, Apr 30, 2025
Ather Energy IPO is a book build issue of ₹2,980.76 crores. The issue is a combination of fresh issue of 8.18 crore shares aggregating to ₹2,626.04 crores and offer for sale of 1.11 crore shares aggregating to ₹354.73 crores.
Ather Energy IPO bidding started from Apr 28, 2025 and ended on Apr 30, 2025. The allotment for Ather Energy IPO was finalized on May 2, 2025. The shares got listed on BSE, NSE on May 6, 2025.
Ather Energy IPO price band is set at ₹321 per share. The lot size for an application is 46. The minimum amount of investment required by an retail is ₹14,766 (46 shares) (based on upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,06,724, and for bNII, it is 68 lots (3,128 shares), amounting to ₹10,04,088.
The issue includes a reservation of up to 1,00,000 shares for employees offered at a discount of ₹30.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ather Energy IPO RHP for detailed Information.
IPO Open
Mon, Apr 28, 2025
IPO Close
Wed, Apr 30, 2025
Issue Price
₹321 per share
Market Cap (Pre-IPO)
₹11,955.96 Cr
| IPO Date | 28 to 30 Apr, 2025 |
| Listed on | Tue, May 6, 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹304 to ₹321 |
| Issue Price | ₹321 per share |
| Lot Size | 46 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹30.00 |
| Total Issue Size | 9,28,67,945 shares (agg. up to ₹2,981 Cr) |
| Fresh Issue | 8,18,16,199 shares (agg. up to ₹2,626 Cr) |
| Offer for Sale | 1,10,51,746 shares of ₹1 (agg. up to ₹355 Cr) |
| Share Holding Pre Issue | 29,06,43,469 shares |
| Share Holding Post Issue | 37,24,59,668 shares |
| BSE Script Code / NSE Symbol | 544397 / ATHERENERG |
| ISIN | INE0LEZ01016 |
Ather Energy IPO offers total 9,28,67,945 shares. Out of which 6,95,75,960 (74.92%) allocated to QIB, 2,78,30,384 (29.97%) allocated to QIB (Ex- Anchor), 1,39,15,191 (14.98%) allocated to NII 92,76,794 (9.99%) allocated to RII and 4,17,45,576 (44.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 6,95,75,960 (74.92%) | NA |
| − Anchor Investor Shares Offered | 4,17,45,576 (44.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,78,30,384 (29.97%) | NA |
| NII (HNI) Shares Offered | 1,39,15,191 (14.98%) | NA |
| − bNII > ₹10L | 92,76,794 (9.99%) | 14,404 |
| − sNII < ₹10L | 46,38,397 (4.99%) | 7,202 |
| Retail Shares Offered | 92,76,794 (9.99%) | 2,01,669 |
| Employee Shares Offered | 1,00,000 (0.11%) | NA |
| Total Shares Offered | 9,28,67,945 (100.00%) |
Investors can bid for a minimum of 46 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,766 |
| Retail (Max) | 13 | 598 | ₹1,91,958 |
| S-HNI (Min) | 14 | 644 | ₹2,06,724 |
| S-HNI (Max) | 67 | 3,082 | ₹9,89,322 |
| B-HNI (Min) | 68 | 3,128 | ₹10,04,088 |
Ather Energy IPO raises ₹1,340.03 crore from anchor investors. Ather Energy IPO Anchor bid date is April 25, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Apr 25, 2025 |
| Shares Offered | 4,17,45,576 |
| Anchor Portion (₹ Cr.) | 1,340.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | Mon, Jun 2, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Jul 30, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Ather Energy Limited, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development.
The company sold 107,983 E2Ws and 109,577 E2Ws in the nine months ended December 31, 2024 and Fiscal Year 2024, respectively.
As of December 31, 2024, we had 265 experience centres and 233 service centres in India, five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka.
The company's product ecosystem includes Ather Grid, a public fast-charging network for two-wheelers, and Atherstack, a proprietary software platform with 64 connected features as of July 2024.
Manufacturing is carried out at the Hosur Factory in Tamil Nadu, which had an annual installed capacity of 420,000 electric vehicles and 379,800 battery packs as of March 2024.
As of February 28, 2025, globally, the company had 303 registered trademarks, 201 registered designs and 45 registered patents, in addition to pending applications for 102 trademarks, 12 designs and 303 patents.
Ather’s strategy is built on four pillars: Vertically integrated design and engineering, A software-defined product ecosystem, Premium market positioning and Capital-efficient operations.
As of March 31, 2024, Ather Energy employed 2,454 people, including 1,458 on-roll employees and 996 off-roll staff.
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 2,172.00 | 1,913.50 | 1,976.80 | 818.60 |
| Total Income | 1,617.40 | 1,789.10 | 1,801.80 | 413.80 |
| Profit After Tax | -577.90 | -1,059.70 | -864.50 | -344.10 |
| NET Worth | 108.00 | 545.90 | 613.70 | 224.90 |
| Reserves and Surplus | 104.10 | 545.10 | 613.10 | 224.20 |
| Total Borrowing | 521.60 | 314.90 | 485.20 | 298.40 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure to be incurred by the Company for establishment of an E2W factory in Maharashtra, India. | 927.20 |
| 2 | Repayment/pre-payment, in full or part, of certain borrowings availed by the Company. | 40.00 |
| 3 | Investment in research and development. | 750.00 |
| 4 | Expenditure towards marketing initiatives. | 300.00 |
| 5 | General corporate purposes. | 492.20 |
| KPI | Mar 31, 2024 |
|---|---|
| RoNW | -194% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -47.00 | |
| Promoter Holding | 54.61% | 42.09% |
| Market Cap | ₹11,955.96 Cr. |
The Ather Energy IPO is subscribed 1.50 times on April 30, 2025 6:19:33 PM (Day 3). The public issue subscribed 1.89 times in the retail category, 1.76 times in the QIB category, and 0.69 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.76 | 2,78,30,383 | 4,90,60,472 |
| NII | 0.69 | 1,39,15,192 | 96,25,914 |
| bNII (bids above ₹10L) | 0.74 | 92,76,795 | 68,41,626 |
| sNII (bids below ₹10L) | 0.60 | 46,38,397 | 27,84,288 |
| Retail | 1.89 | 92,76,795 | 1,75,20,158 |
| Employee | 5.43 | 1,00,000 | 5,42,524 |
| Total | 1.50 | 5,11,22,370 | 7,67,49,068 |
Total Application : 2,73,370
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 76.60 |
| 2 | Fees payable to the Registrar to the Offer | 0.40 |
| 3 | Selling commission/processing fee for SCSBs and Bankers to the Offer, fee payable to the Sponsor Bank for Bids made by RIIs using UPI, brokerage and selling commission and bidding charges for the Members of the Syndicate, Registered Brokers, RTAs and CDPs (2)(3)(4)(5)(6)(7)(8) | 4.30 |
| 4 | Advertising and marketing expenses | 8.20 |
| 5 | Other expenses (i) Listing fees, SEBI filing fees, BSE and NSE processing fees, book building software fees, | 9.90 |
| 6 | Other expenses (ii) Other regulatory expenses, | 0.60 |
| 7 | Other expenses (iii) Printing and stationery expenses | 1.50 |
| 8 | Other expenses (iv) Fees payable to the legal counsel | 9.90 |
| 9 | Other expenses (v) Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, independent chartered accountant, industry expert, and independent chartered engineer | 15.30 |
| 10 | Other expenses (vi) Miscellaneous | 6.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹321.00 | ₹321.00 |
| Open | ₹326.05 | ₹328.00 |
| Low | ₹300.00 | ₹299.10 |
| High | ₹332.90 | ₹333.00 |
| Last Trade | ₹302.50 | ₹302.30 |
Ather Energy IPO is a main-board IPO of 9,28,67,945 equity shares of the face value of ₹1 aggregating up to ₹2,981 Crores. The issue is priced at ₹321 per share. The minimum order quantity is 46.
The IPO opens on Mon, Apr 28, 2025, and closes on Wed, Apr 30, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ather Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Ather Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ather Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ather Energy IPO opens on Mon, Apr 28, 2025 and closes on Wed, Apr 30, 2025.
Ather Energy IPO lot size is 46, and the minimum amount required for application is ₹14,766.
You can apply in Ather Energy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ather Energy IPO will be done on Friday, May 2, 2025, and the allotted shares will be credited to your demat account by Mon, May 5, 2025. Check the Ather Energy IPO allotment status.
The Ather Energy IPO listing date is on Tue, May 6, 2025.
