Ather Energy is all set to launch their IPO on April 28, marking the first significant mainboard listing since February 2025.
The company is backed by marquee investor Tiger Global and with the launch of their IPO they are all set to establish themselves as the leader of the electric vehicle segment.
Company Overview
Ather Energy is based in Bengaluru and is a leading technology-focused electric mobility firm, specialising in the design and manufacturing of electric two-wheelers. The company has established a vertically integrated ecosystem that includes:
- Proprietary smart dashboards
- Vehicle control units
- Cloud-connected software platforms
- A growing network of public charging stations
While core technologies are predominantly developed in-house, certain components such as motors and chargers are sourced from specialized external vendors.
Below are the key highlights of the Ather Energy IPO:
Important Dates
- Public Offer Opens: Monday, April 28, 2025
- Public Offer Closes: Wednesday, April 30, 2025
- Anchor Investor Bidding: Friday, April 25, 2025
- Allotment Finalization: Friday, May 2, 2025
- Initiation of Refunds: Monday, May 5, 2025
- Credit of Shares to Demat Accounts: Monday, May 5, 2025
- Listing on NSE & BSE: Tuesday, May 6, 2025
Price Band and Lot Size
The price band for the Ather Energy IPO has been set at ₹304 to ₹321 per equity share, each with a face value of Rs 1.
Retail investors can submit bids in lots of 46 shares, with subsequent bids in multiples of 46. Based on the upper price band, the minimum retail investment would be approximately Rs 14,766.
Investor Allocation
The IPO book has been allocated as:
- 75% reserved for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 10% for Retail Individual Investors (RIIs)
Additionally, 1,00,000 equity shares have been booked for company employees at Rs 30 per share discount, as part of the employee quota.
Issue Size
The IPO comprises two components:
- Fresh Issue: Equity shares aggregating up to Rs 2,626 crore. Proceeds from this component will be utilized for expansion of manufacturing capacity, R&D in product development, and the rollout of EV charging infrastructure.
- Offer for Sale (OFS): Sale of 1.11 crore equity shares by existing shareholders, facilitating partial exits or stake dilution.
Book Running Lead Managers and Registrar
The IPO is being managed by a consortium of lead managers including:
- Axis Capital
- HSBC Securities
- JM Financial
- Nomura Financial Advisory
