Ather Energy Limited IPO
Ather Energy Limited IPO
Price Band
₹304 - ₹321
Total Issue
₹2,980.46 Cr
Bid Dates
28 Apr - 30 Apr
Subscription
1.43x
Est. GMP
₹7 (2.18%)
Tentative Timetable
Business Overview
Ather Energy is a premium electric vehicle (EV) company that designs, develops, and sells electric two-wheelers (E2Ws) along with a fully integrated ecosystem, including proprietary software, charging infrastructure, and smart accessories—entirely conceptualised in India. With in-house battery pack manufacturing and final vehicle assembly, Ather combines cutting-edge tech with sleek design. Its E2W portfolio features the Ather 450 and Ather Rizta, powered by Atherstack, the company’s in-house software platform that enables smart features like navigation, ride analytics, and safety tools. Ather Energy is redefining urban mobility through innovation, performance, and seamless connectivity.
Lot Info
| Category | 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 |
Category Reservation
Issue Size
Objects of Issue
- Capital expenditure to be incurred by our Company for establishment of an E2W factory
- Repayment of certain borrowings availed by our Company
- Investment in research and development
- Expenditure towards marketing initiatives
Grey Market Premium
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 05 May | ₹7 (2.2%) | ₹328 |
| 04 May | ₹6 (1.9%) | ₹327 |
| 03 May | ₹1 (0.3%) | ₹322 |
| 02 May | ₹1 (0.3%) | ₹322 |
| 01 May | ₹0 (0%) | ₹321 |
| 30 Apr | ₹1 (0.3%) | ₹322 |
| 29 Apr | ₹1.5 (0.5%) | ₹322.50 |
| 28 Apr | ₹1 (0.3%) | ₹322 |
| 27 Apr | ₹0 (0%) | ₹321 |
| 26 Apr | ₹3.5 (1.1%) | ₹324.50 |
| 25 Apr | ₹3 (0.9%) | ₹324 |
| 24 Apr | ₹5 (1.6%) | ₹326 |
| 23 Apr | ₹11 (3.4%) | ₹332 |
| 22 Apr | ₹16 (5%) | ₹337 |
Ather Energy IPO Peer Comparison
(Rs. in crores)
| Particulars | Ather Energy | Hero Moto | Bajaj Auto | Ola Electric | TVS Motors | Eicher Motors |
|---|---|---|---|---|---|---|
| Revenue from Ops (in Crs.) | 1,753.80 | 37,788.60 | 44,870.40 | 5,009.80 | 39,144.70 | 16,535.80 |
| PAT (In Crs.) | -1,059.70 | 3,742.16 | 7,708.24 | -1,584.40 | 1,778.54 | 4,001.01 |
| EPS - Basic | -47.00 | 187.00 | 273.00 | -4.00 | 36.00 | 146.00 |
| NAV per share | 24.00 | 884.00 | 935.00 | 6.00 | 143.00 | 657.00 |
| RONW | -194.00% | 21.00% | 29.00% | -78.00% | 26.00% | 22.00% |
| EBITDA | -36.00% | 15.74% | 22.60% | -19.72% | 14.28% | 33.22% |
| PAT Margin | -59.00% | 9.68% | 16.65% | -30.22% | 4.53% | 22.72% |
| Price to earning (PE) | Nil | 20.00 | 29.00 | NA | 68.00 | 37.00 |
- All information pertains to FY 2023-24.
- PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of March 28, 2024 for Peers
Financial Performance
(Rs. in crores)
| Particulars | Dec-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Revenue from Operations | 1,578.90 | 1,753.80 | 1,780.90 | 408.90 |
| Profit after Tax | -577.90 | -1,059.70 | -864.50 | -344.10 |
| Net Worth | 108.00 | 545.90 | 613.70 | 224.90 |
| Total Borrowing | 1,121.60 | 314.90 | 485.20 | 298.40 |
| Total Assets | 2,172.00 | 1,913.50 | 1,976.80 | 818.60 |
| NAV per share (in ₹) | 4.00 | 24.00 | 34.00 | 18.00 |
| EPS - Basic (in ₹) | -23.00 | -47.00 | -48.00 | -27.00 |
KPIs
EBITDA
-36.00%
PAT
-59.00%
RoNW
-194.00%
Gross Margin
9.00%
PE Ratio
NA
PB Ratio
13.38
Mkt Cap (in Crs.)
11,955.66
- All the data pertains to FY 2023-24.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Shareholding
Promoter
48.19%
Public
51.81%
Management
Subscription Status
Updated as on 30-Apr-2025 19:00:00
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 1.76 | 2,78,30,383 | 4,90,60,472 |
| NII | 0.69 | 1,39,15,192 | 96,27,202 |
| bHNI | 0.74 | 92,76,795 | 68,41,626 |
| sHNI | 0.60 | 46,38,397 | 27,85,576 |
| Retail | 1.87 | 92,76,795 | 1,73,13,710 |
| Employee | 5.43 | 1,00,000 | 5,42,662 |
| Total | 1.50 | 5,11,22,370 | 7,65,44,046 |
Subscription data excludes the Anchor Investor portion.
Frequently Asked Questions
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How to apply Ather Energy IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Ather Energy IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Ather Energy IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Ather Energy IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date