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3w ago

Ather Energy IPO Opens with Mixed Investor Sentiment

The Rs 2,981 crore offering sees cautious demand as grey market premium remains neutral, while brokerages split on investment prospects.

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Ather Energy IPO opens for bidding: Should you subscribe? Check latest GMP

Overview

  • Ather Energy's IPO, priced at Rs 304–321 per share, opened for subscription on April 28 and will close on April 30.
  • The offering includes a Rs 2,626 crore fresh issue and an Offer for Sale of 1.1 crore shares, with proceeds earmarked for manufacturing expansion, R&D, and charging network growth.
  • Anchor investors, including Franklin Templeton and Abu Dhabi Investment Authority, contributed Rs 1,340 crore ahead of the public subscription.
  • The IPO's grey market premium stands at Rs 0, reflecting tempered expectations for listing gains among market participants.
  • Brokerages are divided: Ventura Securities recommends subscribing for listing gains, while Bajaj Broking advises caution due to ongoing losses and high debt.