Ather Energy IPO Details
Ather Energy IPO Details, GMP, Date, Subscription, Allotment
Ather Energy IPO is a Book Building issue of ₹2981.06 Crore, offering about 9.28 Crore to the public.
The offer is a combination of Fresh Issue of 8.18 Crore shares worth ₹2626.30 Crore and an Offer for Sale of 1.1 Crore shares worth ₹354.76 Crore by its promoters. Promoters of Ather Energy Limited are Tarun Sanjay Mehta, Swapnil Babanlal Jain, and HMCL.
Ather Energy IPO was subscribed 1.50 times during bidding from 28 Apr 2025 to 30 Apr 2025. Allotment was finalized on 2 May 2025, and the shares listed on BSE, NSE on 6 May 2025.
Price band for Ather Energy IPO is ₹304 to ₹321 per equity share. One lot consists of 46 shares. Minimum investment for retail investors is ₹13984. It is recommended to apply at the cutoff price of ₹321 to improve allotment chances.
Retail investors can apply for 1 lot (46 shares) costing ₹14766. NIIs must invest ₹206724 for 14 lots (644 shares). QIBs need ₹1004088 to apply for 68 lots (3128 shares).
10% of the issue is reserved for retail investors, 15% for NIIs, 30% for QIBs, 45% of shares were reserved for anchor investors and their bidding date is 25 Apr 2025, and 0.07% shares are reserved for employees at a ₹30 discount.
Ather Energy Limited reported revenue of ₹1789.10 Crores in and ₹253.70 Crores in . It reported a Loss of ₹1059.7 Crores in and a Loss of ₹864.5 Crores in after taxes.
MUFG Intime India Private Limited is the registrar of the Ather Energy IPO. The book running lead managers are Axis Capital Limited, HSBC Securities and Capital Markets Pvt Ltd, JM Financial Limited, Nomura Financial Advisory and Securities Pvt Ltd.
Ather Energy Limited IPO (Ather Energy IPO) Overview
| IPO Name | Ather Energy Limited IPO |
| IPO Status | Listed on BSE at INR 326.05 (+1.57%), on NSE at INR 328.00(+2.18%) |
| IPO Open Date | 28 Apr 2025 |
| IPO Close Date | 30 Apr 2025 |
| Face Value | ₹1 Per Equity Share |
| One Lot Size | 46 Equity Shares |
| Total Issue | 9,28,67,945 Shares (worth up to ₹2981.06 Crore Rs) |
| Fresh Issue | 8,18,16,199 Shares (worth up to ₹2626.30 Crore Rs) |
| Offer of Sale | 1,10,51,746 Shares (worth up to ₹354.76 Crore Rs) |
| Issue Type | Book Building Issue |
| IPO Listing | BSE, NSE |
| Retail Portion | Up to 10% of Net Issue |
| NII Portion | Up to 15% of Net Issue |
| Net QIB Portion | Up to 30% of Net Issue |
| Anchor Portion | Up to 45% of Net Issue |
| DRHP Draft Prospectus | View DRHP |
| RHP Draft Prospectus | View RHP |
| Anchor Investors List | View List |
Ather Energy IPO Important Dates
The following table gives all important events and their timelines for Ather Energy IPO.
| Anchor Investors Bid Date | 25 Apr 2025 |
| IPO Open Date | 28 Apr 2025 |
| IPO Close Date and Time | 30 Apr 2025 at 3:15 PM |
| Basis of Allotment | 2 May 2025 at 9:00 PM |
| Refunds | 5 May 2025 |
| Credit to DEMAT | 5 May 2025 |
| IPO Listing Date | 6 May 2025 |
Ather Energy IPO Investor Reservation
Ather Energy Limited issued a total 9.28 Crore shares through this IPO. 92.76 Lakh (6.89%) shares reserved for Retail. 1.39 Crore (10.34%) shares for NIIs. 6.95 Crore (51.69%) shares for QIBs. 4.17 Crore (31.01%) shares for Anchor Investors. 1 Lakh (0.07%) shares for Employees.
| Investor | Shares Reserved | Reservation % |
|---|---|---|
| Retail | 92,76,794 | 6.89% |
| NII | 1,39,15,173 | 10.34% |
| QIB | 6,95,75,960 | 51.69% |
| Anchor Investors | 4,17,45,576 | 31.01% |
| Employees | 100000 | 0.07% |
| Total | 9,28,67,945 | 100% |
Ather Energy IPO Lot Amounts
Investors can send applications in lots of 46 shares and in multiples thereof. The minimum amount of retail application of 46 shares (1 lot) is ₹14766 and maximum application amount is ₹191958 for 598 shares (13 lots). The following depicts the minimum and maximum by Retail, HNI and QIB investors in terms of shares, lots and amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 46 | ₹14766 |
| Retail Maximum | 13 | 598 | ₹191958 |
| SHNI Minimum | 14 | 644 | ₹206724 |
| SHNI Maximum | 33 | 1518 | ₹487278 |
| BHNI Minimum | 34 | 1564 | ₹502044 |
| BHNI Maximum | 67 | 3082 | ₹989322 |
| QIB Minimum | 68 | 3128 | ₹1004088 |
About Ather Energy Limited Company
Ather Energy Limited is a pioneer in the Indian electric two-wheeler (E2W) market. It is an EV company that sells E2Ws and associated product ecosystem consisting software, charging infrastructure, smart accessories and vehicles. All of these are designed and manufactured in India by the company. Battery packs, portable chargers and motors and other equipment are manufacture by its suppliers. Key components like motor controllers, transmissions, vehicle control units, dashboards, DC-DC converters etc are designed in-house and outsourced for manufacturing. All these components of Atherstack software powering all in-house products.
Ather Energy Limited was founded by Tarun Sanjay Mehta and Swapnil Babanlal Jain in 2013 with a focus on product and technology development in India to build an E2W ecosystem. It sold 1,07,983 E2Ws in nine month period of December 31, 2024 and 1,09,577 in FY2024. It is the Third and Fourth largest player by volume of E2W sales in FY2024. The company reported revenue of INR1617.4 Crore in Dec 2024 and INR1253.7 Crore in Dec 2023. The company reported loss of -INR577.9 Crore in Dec 2024 and -776.4 Crore in Dec 2023 after taxes. As per the company financials, it showed a year-on-year growth rate of 29% in Dec 2024. The following table gives last few years financial report and review.
Ather Energy Limited Financial Report and Review
| Particulars | 31 Dec 2024 | 31 Dec 2023 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | Review |
|---|---|---|---|---|---|---|
| Revenue | 1617.40 | 253.70 | 1789.10 | 1801.80 | 413.80 | Good |
| Profit | -577.90 | -776.40 | -1059.70 | -864.50 | -344.10 | Loss |
| Expenses | 2195.30 | 1855.50 | 2674.20 | 2666.30 | 77.90 | High |
| Assets | 2172.00 | 1870.20 | 1913.50 | 1976.80 | 818.60 | Good |
| Networth | 108.00 | 843.55 | 545.90 | 613.70 | 224.90 | Declined |
| Borrowings | 1121.60 | 229.00 | 314.90 | 485.20 | 298.40 | High |
Amount ₹ in Crores if not stated separately
Ather Energy Limited Key Performance Indicators
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue from Operations | — | — | — |
| Revenue from Operations % | — | — | — |
| ROE % | -1.83 | -2.06 | -1.15 |
| ROCE % | -118.69 | -69.95 | -85.01 |
| EBITDA | 649.40 | 686.70 | 225.00 |
| EBITDA Margin % | -36.00 | -38.00 | -62.00 |
| PAT Margin % | -59.00 | -48.00 | -83.00 |
| Debt to Equity Ratio | 0.88 | 1.09 | 1.62 |
| Earnings Per Share (in ₹) | -47.00 | -48.00 | -27.00 |
| Return on Networth % | -194.00 | -141.00 | -153.00 |
| Net Asset Value | 24.00 | 34.00 | 18.00 |
Ather Energy Limited IPO Peer Group Comparison
| Company | Income (INR Cr) | EPS(INR) | NAV(INR) | RoNW% | P/E | Sales FY2024 |
|---|---|---|---|---|---|---|
| Ather Energy Limited | 1753.8 | -47 | NA | -194% | 24 | 110 |
| Hero MotoCorp Ltd | 37788.6 | 187 | 884 | 21% | 20 | 5621 |
| Bajaj Auto Ltd | 44870.4 | 273 | 935 | 29% | 29 | 4351 |
| Ola Electric Mobility | 5009.8 | -4 | 6 | -78% | NA | 330 |
| TVS Motors Ltd | 39144.7 | 36 | 36 | 26% | 68 | 4191 |
| Eicher Motors Ltd | 16535.8 | 146 | 146 | 22% | 37 | 912 |
Objects of the Ather Energy IPO Offer
Ather Energy Limited filed to raise ₹2626.30 Crore Rs funds through Fresh Issue and is about to use the funds on the following objects:
| S.No. | Objects of the Issue | Amount(Cr) |
|---|---|---|
| 1 | Capital expenditure to be incurred by our Company for establishment of an E2W factory in Maharashtra India | INR927.2 |
| 2 | Repayment/ pre-payment in full or part of certain borrowings availed by our Company | INR40 |
| 3 | Investment in research and development | INR750 |
| 4 | Expenditure towards marketing initiatives | INR300 |
| 6 | General corporate purposes | |
| Total Net Proceeds | ? |
Amount ₹ in Crores if not stated separately
Ather Energy Limited Office Address
Ather Energy Limited
3rd Floor, Tower D, IBC
Knowledge Park, #4/1
Bannerghatta Main Road,
Bangalore 560 029,
Karnataka, India
Ather Energy IPO Details FAQs
1. What is the Ather Energy IPO ?
Ather Energy IPO is a Book Building issue of ₹2981.06 Crore, offering about 9.28 Crore to the public.
2. What is the Ather Energy IPO price band and face value per share?
Price band for Ather Energy IPO is ₹304 to ₹321 per equity share. The face value of each share is ₹1 per equity share.
3. When will Ather Energy IPO open date for subscription?
Ather Energy IPO open date for subscription is 28 Apr 2025 and close date is 30 Apr 2025 at 3:15 PM.
4. What is the Ather Energy IPO Investors reservation portions?
The Ather Energy IPO has allocated 10% for Retail, 15% for NIIs, and 30% for QIBs. 45% of shares are reserved for Anchor Investors.
5. What is the issue size of the Ather Energy IPO ?
The offer is a combination of Fresh Issue of 8.18 Crore shares worth ₹2626.30 Crore and an Offer for Sale of 1.1 Crore shares worth ₹354.76 Crore by its promoters.
Promoters of Ather Energy IPO are Tarun Sanjay Mehta, Swapnil Babanlal Jain, and HMCL.
6. What is the lot size and the minimum investment for retail, NII, and QIB applicants of Ather Energy IPO ?
In the Ather Energy IPO , the minimum investment for Retail investors is 1 lot (46 shares), totaling ₹14766. For NIIs, the investment is 14 lots (644 shares), amounting to ₹206724. QIBs need ₹1004088 to subscribe to 68 lots (3128 shares) of the Ather Energy IPO.
7. How to apply for the Ather Energy IPO ?
One can apply for Ather Energy IPO through the ASBA via bank account. If the application amount is below ₹5,00,000, they can apply via UPI through their stock brokers like Zerodha, Groww, Paytm Money etc.
8. What is Ather Energy IPO Lot Size?
Ather Energy IPO one lot size is 46 equity shares.
9. What is the Ather Energy IPO Allotment Date?
Ather Energy IPO Allotment Date is 2 May 2025.
10. What is the Ather Energy IPO Listing Date?
Ather Energy IPO listing date is 6 May 2025.