Ather Energy IPO receives 16% subscription on Day 1 of bidding

The debut public offering of electric two-wheeler manufacturer Ather Energy saw a 16 percent subscription during the first day of bidding on Monday. The initial share offering attracted bids for 86,09,406 shares out of the 5,33,63,160 shares available, as per information from the NSE.

The share for retail individual investors (RIIs) garnered 63 percent of subscriptions, whereas the allocation for the non-institutional category obtained 16 percent of subscriptions. Ather Energy Ltd announced on Friday that it has secured Rs 1,340 crore from key investors.

The public issue worth Rs 2,981 crore, priced between Rs 304 and 321 each, is open for public subscription from April 28 to 30. This marks the first mainboard public issue for the financial year 2025-26.

The IPO consists of a new issuance of equity shares valued at Rs 2,626 crore along with a public offering of 1.1 crore equity shares by promoters and additional shareholders. At the highest point of the price range, the IPO amount is set at Rs 2,981 crore, which values the company at Rs 11,956 crore in total.

This marks the second electric two-wheeler firm to become publicly traded after Ola Electric Mobility launched its ₹6,145-crore IPO in August of the previous year. The IPO’s lead book-running managers are Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), and HSBC Securities & Capital Markets.