Overview

• Ather Energy's ₹2,980.76 crore IPO, priced at ₹304–321 per share, was subscribed 1.43 times overall, with retail investors leading at 1.78 times subscription.
• The company raised ₹1,340 crore from anchor investors before the IPO opened for bidding from April 28–30, 2025.
• The grey market premium for Ather Energy shares has dropped to ₹0, signaling a likely flat listing on May 6 on the BSE and NSE.
• Proceeds from the IPO will fund a new manufacturing facility in Maharashtra, debt repayment, R&D, and corporate expenses.
• Analysts highlighted concerns about valuation, profitability challenges, negative cash flows, and dependence on government incentives as key investor apprehensions.