Ather Energy IPO: Ather Energy is poised to end the two and a half month pause in the primary market later this month with its highly anticipated inaugural public offering. The electric scooter manufacturer submitted a red herring prospectus for the initial public offering to the Securities and Exchange Board of India (Sebi) on Tuesday, April 22. This will mark the first IPO since Quality Power Equipments’ ₹859 crore offering on February 18.
The Bengaluru-based firm will allow investors like Tiger Global and NIIF to reap significant profits from their investment in the electric two-wheeler (E2W) company focused on the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. This company functions as a fully integrated EV manufacturer with an emphasis on product and technology innovation.
HeroMoto Corp, the largest shareholder of the company with approximately a 40% stake, will not be divesting its shares during the IPO.
The company recorded sales of 107,983 E2Ws in the nine months ending December 31, 2024, and 109,577 E2Ws for the fiscal year 2024.
As of December 31, 2024, we operated 265 experience centers and 233 service centers across India, five experience centers and four service centers in Nepal, and ten experience centers along with one service center in Sri Lanka.
Ather Energy IPO date: Ather IPO opens for subscription on Monday, April 28, and closes on Wednesday, April 30.
Ather Energy IPO price band: Ather IPO price band has been fixed in the range of ₹304 to ₹321 per equity share of face value of Re 1.
Ather Energy IPO lot size: Ather IPO lot size is 46 equity shares and in multiples of 46 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Ather Energy IPO is scheduled to take place on Friday, April 25.
Ather Energy IPO details: The upcoming IPO consists of a fresh issuance of equity shares valued at ₹2,626 crore, alongside an offer-for-sale (OFS) of 1.1 crore equity shares by promoters and other shareholders.
Ather Energy IPO objective: Ather intends to allocated ₹927.2 crore of the total IPO proceeds to set up an electric two-wheeler manufacturing plant in Maharashtra, allocate ₹40 crore for debt repayment, invest ₹750 crore in research and development, and spend ₹300 crore on marketing initiatives. The utilization of these funds will occur over the fiscal years 2026 to 2028.
Ather Energy IPO listing date and allotment details: The preliminary share allotment for the Ather Energy IPO is set to be determined on Friday, May 2, and refunds will be initiated by the company on Monday, May 5. Shares will be deposited into the demat accounts of allottees on the same day as the refunds. Ather Energy share price is expected to be listed on the BSE and NSE on Tuesday, May 6.
Lead Manager and Registrar of Ather Energy IPO: Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead managers for Ather IPO. Link Intime India Private Ltd is functioning as the registrar for this offering.
Ather Energy IPO reservation: Ather IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employees have been reserved upto 100,000 equity shares, with a discount of ₹30 per equity share.
Ather Energy IPO GMP today: Ather IPO GMP today or grey market premium is +11. This indicates Ather Energy share price were trading at a premium of ₹11 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ather Energy share price was indicated at ₹332 apiece, which is 3.43% higher than the IPO price of ₹321.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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