Are you planning to apply for the Ather Energy IPO? Before you take the next step, it is important to review the latest Ather Energy IPO GMP trends, subscription timelines, price band, and anchor investor response.
Also, the Indian stock market reacting cautiously to global cues , and rising border tensions with Pakistan adding fresh uncertainty, understanding where Ather Energy stands today could be critical.
Here’s a complete snapshot to help you invest smartly.
India’s electric vehicle pioneer, Ather Energy, is ready to hit the public markets with its much-anticipated IPO opening on April 28, 2025, and concluding on April 30, 2025. This will be a Book Built Issue, targeting a robust fundraise of around ₹2,980 crores.
The offer consists of a fresh equity issue worth ₹2,626 crores, while the remainder will be an Offer for Sale of 1,10,51,746 shares, each having a face value of ₹1.
The company has fixed a price band ranging between ₹304 and ₹321 per equity share. Post bidding, Ather is expected to make its debut on both the NSE and BSE on May 5, 2025, while the share allotment will be announced on May 1.
The IPO allocation structure mirrors standard norms, with 75% reserved for Qualified Institutional Buyers (QIBs), 15% for High Net-worth Individuals (HNIs), and 10% for retail investors.
From a financial lens, Ather’s top line saw a slight dip — ₹1,789.1 crores in FY24 compared to ₹1,801.8 crores in FY23. Losses widened too, clocking in at ₹1,059.7 crores in FY24 versus ₹864.5 crores in FY23.
Company News:
Ather recently raised ₹1,340 crore from anchor investors like Nomura and Goldman Sachs — impressive backing.
Despite being a pioneer in EV scooters, competition from Ola Electric and TVS is heating up.
📅 Ather Energy IPO: Full Throttle Overview
| IPO Open Date | April 28,2025 |
| IPO Close Date | April 30, 2025 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹304 to ₹321 |
| Issue Size | ₹2,980.73 Crores |
| Fresh Issue | Approx ₹2,626 Crores |
| Offer for Sale | Approx 11,051,746 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
| Retail Quota | Not more than 10% |
| QIB Quota | Not more than 75% |
| NII Quota | Not more than 15% |
| DRHP Draft Prospectus | Click Here (Link) |
| RHP Draft Prospectus | Click Here (Link) |
Ather Energy IPO Market Lot
The minimum market lot of Ather Energy IPO is 46 shares with ₹14,766 application amount. The retail investors can apply up-to 13 lots with 598 shares of ₹1,91,958 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 46 | ₹14,766 |
| Retail Maximum | 13 | 598 | ₹1,91,958 |
| S-HNI Minimum | 14 | 644 | ₹2,06,724 |
| S-HNI Maximum | 68 | 3,128 | ₹10,04,088 |
Ather Energy IPO Dates
| IPO Open Date | April 28, 2025 |
| IPO Close Date | April 30, 2025 |
| Basis of Allotment | May 1, 2025 |
| Refunds | May 2, 2025 |
| Credit to Demat Account | May 2, 2025 |
| IPO Listing Date | May 5, 2025 |
Promoters of Ather Energy IPO
The company’s promoters are Tarun Sanjay Mehta, Swapnil Babanlal Jain And Hero Motocorp Limited.
About Ather Energy IPO
Ather Energy has emerged as a trailblazer in India’s electric two-wheeler (E2W) revolution, crafting everything from smart electric scooters to robust battery packs and cutting-edge charging stations.
With its homegrown innovation engine, Ather not only manufactures but also designs its products entirely in India, reinforcing its commitment to sustainability and local tech. The company takes pride in controlling quality by building battery packs and assembling E2Ws in-house.
As the first Indian 2W OEM to launch a dedicated fast-charging network — the Ather Grid — it has electrified the market, already clocking over 1.09 lakh units sold, charging ahead with purpose.
Ather Energy IPO Company Financials
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹413.8 | ₹757.9 | ₹344.1 | ₹818.6 |
| 2023 | ₹1,801.8 | ₹2,666.3 | ₹864.5 | ₹1,976.8 |
| 2024 | ₹1,789.1 | ₹2,674.2 | ₹1,059.7 | ₹1,913.5 |
| December 2024 | ₹1,617.4 | ₹2,195.3 | ₹577.9 | ₹2,172 |
Ather Energy IPO Valuation- FY 2024
| KPI | Values |
| ROE | -1.83% |
| ROCE | -118.68% |
| EBITDA Margin | -36% |
| PAT Margin | -59% |
| Debt to Equity Ratio | 0.88 |
| Earning Per Share | –₹47 (Basic) |
| Net Asset Value | ₹24 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW(%) | NAV | Income |
| Hero MotoCorp Limited | 187 | 30 | 21% | 884 | 37,788.6 Cr. |
| Bajaj Auto Limited | 273 | 40 | 29% | 935 | 44,870.4 Cr. |
| Ola Electric Mobility Limited | (4) | NA | (78%) | 6 | 5,009.8 Cr. |
| TVS Motors Limited | 36 | 78 | 26% | 143 | 39,144.7 Cr. |
| Eicher Motors Limited | 146 | 33 | 22% | 657 | 16,535.8 Cr. |
Objects of the Issue
- Capital expenditure for establishment of an E2W factory in Maharashtra, India;
- Repayment/ pre-payment, in full or part, of certain borrowings availed by our Company;
- Investment in research and development;
- Expenditure towards marketing initiatives; and
- General corporate purposes
Ather Energy IPO Registrar
MUFG Intime India Private Limited
Phone: +91 81 0811 4949
E-mail: atherenergy.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- HSBC Securities and Capital Markets (India) Private Limited
- JM Financial Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Company Address
Ather Energy Limited
3rd Floor, Tower D, IBC Knowledge Park,
#4/1 Bannerghatta Main Road,
Bangalore 560 029,
Karnataka, India
Phone: +91 80 6646 5750
Email: cs@atherenergy.com
Website: www.atherenergy.com
FAQs About Ather Energy IPO
1. What is the Ather Energy IPO date in India?
The Ather Energy IPO opens on April 28, 2025 and closes on May 2, 2025.
2. What is the Ather Energy IPO price band?
The Ather Energy IPO price is set between ₹400 and ₹420 per share.
3. What is the GMP of Ather Energy IPO today?
As of today, Ather Energy IPO GMP is approximately ₹45 to ₹55 in the grey market.
4. Can retail investors apply under any shareholder quota?
Yes! If you hold shares of Hero MotoCorp (Ather’s parent company) as of the record date, you may qualify for the Ather Energy IPO shareholder quota.
5. Is Ather Energy listed on NSE and BSE?
Yes, Ather Energy will be listed on both NSE and BSE stock exchanges post-IPO.
Disclaimer: The views and investment insights provided here are based on publicly available information and do not constitute financial advice. Readers are advised to conduct their own research or consult certified financial experts before making investment decisions.
