Overview

• Ather Energy shares listed at ₹328 on NSE, a 2.18% premium over the IPO price of ₹321, but closed at ₹302.50, down nearly 6%.
• The IPO raised ₹2,981 crore through a mix of fresh equity and promoter share sales, with a 1.43× overall subscription rate led by retail and institutional investors.
• Proceeds from the IPO will fund a new manufacturing plant in Maharashtra, R&D, marketing, and debt repayment between FY26 and FY28.
• Analysts attributed the weak debut to aggressive valuation, ongoing losses, and competitive pressures in the electric two-wheeler market.
• Founded in 2013, Bengaluru-based Ather Energy remains unprofitable, with plans to scale manufacturing and expand its EV charging network.