Ather Energy IPO: Price band set at ₹304-321 per share; check GMP, issue details, more

Ather Energy IPO price band: Tiger Global-backed Ather Energy Limited IPO price band has been fixed in the range of ₹304 to ₹321 per equity share of the face value of Re 1. The Ather Energy IPO date of subscription is scheduled for Monday, April 28, and will close on Wednesday, April 30. The allocation to anchor investors for the Ather Energy IPO is scheduled to take place on Friday, April 25.

The floor price and the cap price are 304 times and 321 times the face value of the equity shares respectively. The Ather Energy IPO lot size is 46 equity shares and in multiples of 46 equity shares thereafter.

Ather Energy 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.

Tentatively, Ather Energy IPO basis of allotment of shares will be finalised on Friday, May 2 and the company will initiate refunds on Monday, May 5 while the shares will be credited to the demat account of allottees on the same day following refund. Ather Energy share price is likely to be listed on BSE and NSE on Tuesday, May 6.

Ather Energy is a specialised electric vehicle company that produces electric two-wheelers (E2Ws) along with a comprehensive ecosystem of products, including their proprietary software, charging networks, and smart accessories, all developed and designed in India.

Aside from battery packs, which are produced internally, and portable chargers and motors designed and made by third-party suppliers, key components of the E2Ws—such as motor controllers, transmissions, vehicle control units, dashboards, DC-DC converters, wiring harnesses, and chassis—are designed in-house and then outsourced to manufacturers for production.

As per the red herring prospectus (RHP), the company's listed peers are Hero MotoCorp (with a P/E of 20), Bajaj Auto (with a P/E of 29), Ola Electric Mobility, TVS Motors (with a P/E of 68), and Eicher Motors (with a P/E of 37).

The company based in Bengaluru announced a narrowed loss of ₹578 crore for the nine months ending in December, down from ₹776 crore the previous year, thanks to higher sales of its electric family scooter Rizta, which debuted last year.

Ather Energy IPO details

The anticipated 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. The OFS includes current investors such as National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd, IITM Incubation Cell, IITMS Rural Technology and Business Incubator as well as promoters Tarun Sanjay Mehta and Swapnil Babanlal Jain who will be offloading their shares.

From the total proceeds of the IPO, Ather plans to allocate ₹927.2 crore for establishing an electric two-wheeler manufacturing facility in Maharashtra, ₹40 crore for paying off debts, ₹750 crore for investments in research and development, and ₹300 crore for marketing strategies. These funds will be utilised over the fiscal years 2026 to 2028.

Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are serving as the book running lead managers for the Ather Energy IPO. Link Intime India Private Ltd acts as the registrar for this issue.

Ather Energy IPO GMP today

Ather Energy IPO GMP today or grey market premium is +17. This indicates Ather Energy share price were trading at a premium of ₹17 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 ₹338 apiece, which is 5.30% higher than the IPO price of ₹321.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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