Ather was listed at a premium of 2.18% at ₹328 on NSE, and a premium of 1.6% at ₹326.05 on BSE. This compares to the IPO issue price of ₹321.
In an interaction with CNBC-TV18, Ather Energy CEO Tarun Mehta said that he is bullish on near-term growth, margin, volume and market share should trend higher in FY26. Mehta expects FY26 volume growth to be better than what the company had seen in the first nine months of FY25.
Mehta also said that Ather Energy’s EBITDA breakeven and cashflow positive timeline will be close to each other.
Ather Energy IPO details
The ₹2,981 crore IPO drew a relatively subdued response across categories. Retail investors subscribed 1.78 times their allocated portion, followed by qualified institutional buyers at 1.70 times. The non-institutional investors’ portion lagged at 66% subscription, while the employee quota saw robust demand at 5.43 times.
The public offer was open for subscription from April 28 to April 30. Ather sold its shares in the range of ₹304-321 apiece.
The IPO included fresh equity sale of 8.18 crore shares worth ₹2,626 crore and an offer for sale (OFS) of 1.1 crore shares. The total issue size comes to about ₹2,981 crore.
Under the OFS, promoters Tarun Sanjay and Swapnil Babanla, along with other corporate shareholders, offloaded part of their stakes.
Ather Energy will 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.
Hero MotoCorp is the largest shareholder in Ather with around 40% stake. Hero did not sell its shares in the public offer.
Ather Energy is an 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. Its electric two-wheeler portfolio comprises two product lines, the Ather 450 and the Ather Rizta, with seven variants.
The Bengaluru-based company reported a narrower loss of ₹578 crore in the nine months ended December, from ₹776 crore a year ago, due to increased sales of its electric family scooter Rizta, which was launched in 2024.
At present, Ather shares are trading 6.21% higher at ₹321.30. The company’s market valuation stood at ₹11,719.44 crore today.
