India’s leading electric two-wheeler manufacturer Ather Energy Ltd wrapped up its highly anticipated Initial Public Offering (IPO) on a successful note. The IPO, which opened on April 28, saw a positive response from investors and concluded on April 30 with full subscription across most categories.
📊 IPO Details and Structure
The total issue size of the IPO stands at Rs 2,981.06 crore, which includes:
- A fresh issue of equity shares worth Rs 2,626.30 crore
- An Offer for Sale (OFS) worth Rs 354.76 crore by existing shareholders
The price band for the IPO was set between Rs 304 to Rs 321 per equity share, and the minimum bid lot was 46 shares.
📈 Final Day Subscription Status (April 30)
According to BSE data, by 1:15 PM on the final day, the overall IPO subscription stood at 1.02 times, with 5,42,39,198 bids received against 5,33,63,160 shares reserved.
Here’s a breakdown by investor category:
- Retail Individual Investors (RIIs): 1.45 times (1,40,79,266 shares)
- Qualified Institutional Buyers (QIBs): 1.20 times (3,47,40,350 shares)
- Non-Institutional Investors (NIIs): 0.34 times (49,97,854 shares)
- Employee Quota: 4.22 times (4,21,728 shares)
💼 Anchor Investment Before IPO Launch
Before the public issue went live, Ather Energy successfully raised Rs 1,340 crore from renowned anchor investors including:
- Custody Bank of Japan
- Franklin Templeton
- Abu Dhabi Investment Authority
🧾 Utilisation of IPO Proceeds
The net proceeds from the fresh issue will be used for the following growth initiatives:
- Rs 927.2 crore for setting up a new E2W manufacturing plant in Maharashtra
- Rs 750 crore investment in Research & Development (R&D)
- Rs 40 crore for repayment of existing borrowings
- Rs 300 crore to strengthen marketing and branding efforts
📅 Key Dates to Remember
- IPO Allotment Date: May 2, 2025
- Listing on Stock Exchanges (BSE/NSE): May 6, 2025
📢 Additional Insights
The strong interest from retail and employee segments highlights rising public confidence in India’s EV (Electric Vehicle) sector. Ather Energy, known for its innovative electric scooters, is poised to benefit from the increasing demand for sustainable mobility options. The company’s focus on R&D and expansion aligns well with India’s ambitious EV roadmap.
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