Ather Energy came to market through an IPO that opened on 28 April 2025 and closed on 30 April 2025, and the shares listed on 6 May 2025 on BSE, NSE. The price band was ₹304 to ₹321 per share and one lot was 46 shares, so the minimum application was ₹14,766. The issue size was ₹2981.06 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) was the registrar to the issue, and Axis Capital Limited, HSBC Securities, Capital Markets (India) Private Limited, JM Financial Limited, Nomura Financial Advisory, Securities (India) Private Limited were the lead managers.
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The 2013-founded Ather Energy Limited operates as India's foremost electric two-wheeler (E2W) company that specifically produces electric scooters and battery packs and charging infrastructure and supporting software systems originating from their domestic assembly plants. Ather advances itself as the first manufacturer of premium electric mobility in India through its role as a vertically integrated EV producer that focuses on product and technology development.
The consumer base continues to grow for Ather given its delivery of 107983 electric two-wheelers within nine months of December 2024 and 109577 E2Ws for the complete Fiscal Year 2024. The company operates 269 experience centers and 237 service centers in India together with 5 experience centers and 4 service centers in Nepal as well as 10 experience centers and 1 service center in Sri Lanka at the end of December 2024. Ather’s product ecosystem includes:
Ather Grid–a public fast-charging network specifically for electric two-wheelers Atherstack represents the proprietary software platform that offered 64 connected features during July 2024 because the company highlights its mission for smart connected mobility solutions. The Ather manufacturing base operates from its Tamil Nadu Hosur Factory and reports 420,000 electric vehicle production capacity alongside 379,800 battery pack capacity per year at March 2024. Innovation functions as the fundamental strategic component at Ather.
Ather Energy operates based on four essential strategic components which form the foundation of its operations: Vertically integrated design and engineering software-defined product ecosystem Premium market positioning Capital-efficient operations The company Ather Energy employed 2454 people with 1458 on-roll staff and 996 off-roll workers who worked toward sustainable urban mobility innovation.
As described in the offer document.
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Ather Energy Limited raises Rs 1,340 crore through anchor book. Marquee investors such as SBI Mutual Fund, Aditya Birla Sun Life AMC, Franklin Templeton, Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund, Prudential Hong Kong, Eastspring Investments, Invesco India, and Morgan Stanley invested in the pure EV player through anchor book.
Among others, Aditya Birla Sun Life Insurance, Tocu Europe, Helios, ITI Mutual Fund, Tata Investment Corporation, Societe Generale, Subhkam Ventures, and BNP Paribas Financial Markets have also become promoters of the company by investing by way of anchor book. The company in filing to exchanges revealed that it has completed allotment of 4.17 crore equity shares to anchor investors at Rs 321 per share.
Tarun Sanjay Mehta, Swapnil Babanlal Jain, HMCL. Promoter holding 52.67% before the issue and 42.09% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Ather Energy IPO was a ₹2,981.06 crore book-built issue, comprising a fresh issue of ₹2,626.3 crore and an offer for sale of ₹354.76 crore. It was priced at ₹304–₹321 per share with a lot size of 46 shares (₹14,766). The IPO was open from April 28 to April 30, 2025. Shares listed on BSE and NSE on May 6, 2025 at ₹328, a 2.2% premium to the issue price of ₹321.
MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar. Axis Capital Limited and 3 other book running lead managers manage the issue.
The price band of Ather Energy IPO is ₹304 to ₹321 per share.
The lot size of Ather Energy IPO is 46 shares.
The minimum investment for Ather Energy IPO is approximately ₹14,766 based on the upper price band.
The allotment date of Ather Energy IPO is May 2, 2025.
No GMP quote could be verified as recorded before Ather Energy IPO listed. A grey-market observation of ₹13 per share was recorded on 6 May 2025, 8:30 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹328. GMP is unofficial and does not forecast or guarantee the actual listing price.
Ather Energy IPO listed on May 6, 2025. It was issued at ₹328.0(NSE) and is currently around ₹1756.00 as on 30-Oct-2026 3:30 PM, which is approximately 447.0% versus issue price. The 52-week high is ₹1,784.50.
You can check Ather Energy IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Ather Energy IPO allotment status on Rupix for quick and easy access.
₹304 to ₹321 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 46 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,766.
₹14,766, for one lot of 46 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 28 April 2025 and closed on 30 April 2025.
The basis of allotment was published on 2 May 2025 by MUFG Intime India Private Limited (Formerly Link Intime India Private Limited), and allotted shares were credited to demat accounts before listing.
The shares listed on 6 May 2025 on BSE, NSE.
The issue size was ₹2981.06 crore. The fresh issue was 8,18,16,199 shares (aggregating up to ₹2626.3 crore). The offer for sale was 1,10,51,746 shares (aggregating up to ₹354.76 crore).