Allotment

The Ather Energy IPO is a book-built issue aggregating ₹2,980.76 crore, comprising a fresh issue of 8.18 crore equity shares amounting to ₹2,626.04 crore and an offer for sale of 1.11 crore equity shares aggregating to ₹354.73 crore.
The IPO opened for subscription on April 28, 2025, and closed on April 30, 2025. The basis of allotment was finalized on May 2, 2025, and the company’s shares were listed on the BSE and NSE on May 6, 2025.
The price band for the issue was fixed at ₹321 per share. The lot size for application was 46 shares. Accordingly, the minimum investment for retail investors was ₹14,766 (46 shares, calculated at the upper price band).
For Non-Institutional Investors (NIIs):
sNII (Small NII): Minimum application of 14 lots (644 shares) amounting to ₹2,06,724
bNII (Big NII): Minimum application of 68 lots (3,128 shares) amounting to ₹10,04,088
The issue also included a reservation of up to 1,00,000 equity shares for eligible employees, offered at a discount of ₹30 per share to the issue price.
Axis Capital Ltd. acted as the Book Running Lead Manager, while MUFG Intime India Pvt. Ltd. served as the Registrar to the Issue.
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| IPO Date | 6 May |
| IPO Listing Date | 6 May |
| IPO Face Value | ₹1 per share |
| IPO Price Range | ₹321.00 |
| IPO Issue Size | 9,28,67,945 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE, NSE Platform |
| Share Holding Pre Issue | 29,06,43,469 shares |
| IPO Open Date | 28 Apr |
| IPO Close Date | 30 Apr |
| IPO Allotment (Tentative) | 2 May |
| Refunds | 5 May |
| Credit to Demat Account | 5 May |
| IPO Listing Date | 6 May |
| Category | Offer |
|---|---|
| QIB Shares Offered | 6,95,75,960 Shares |
| NII (HNI) Shares Offered | 1,39,15,191 Shares |
| Retail Shares Offered | 92,76,794 Shares |
Investors can apply for at least 46 shares, with applications accepted in multiples of 46 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,766 |
| Retail (Max) | 13 | 598 | ₹1,91,958 |
| S-HNI (Min) | 14 | 644 | ₹2,06,724 |
| S-HNI (Max) | 67 | 3,082 | ₹9,89,322 |
| B-HNI (Min) | 68 | 3,128 | ₹10,04,088 |
Incorporated in 2013, Ather Energy Limited is an Indian electric two-wheeler (E2W) manufacturer engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated electric vehicle (EV) player, with a strong emphasis on product innovation and technology-led development.
During the nine months ended December 31, 2024, Ather sold 107,983 electric two-wheelers, while total sales for Fiscal Year 2024 stood at 109,577 units.
As of December 31, 2024, Ather had an extensive retail and service network comprising 265 experience centres and 233 service centres in India, along with five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka.
The company has built a comprehensive product ecosystem that includes Ather Grid, a public fast-charging network for two-wheelers, and Atherstack, its proprietary software platform offering 64 connected features as of July 2024, enhancing vehicle performance, connectivity, and user experience.
Manufacturing operations are conducted at the company’s Hosur facility in Tamil Nadu, which had an installed annual capacity of 420,000 electric vehicles and 379,800 battery packs as of March 2024.
Ather has developed a strong intellectual property portfolio. As of February 28, 2025, the company held 303 registered trademarks, 201 registered designs, and 45 registered patents, in addition to pending applications for 102 trademarks, 12 designs, and 303 patents, reflecting its focus on innovation and technology ownership.
The company’s strategy is anchored on four core pillars:
Vertically integrated design and engineering
A software-defined product ecosystem
Premium market positioning
Capital-efficient operations
As of March 31, 2024, Ather Energy employed 2,454 personnel, comprising 1,458 on-roll employees and 996 off-roll staff.
| Assets | 2,172.00 | 1,913.50 | 1,976.80 |
| Total Income | 1,617.40 | 1,789.10 | 1,801.80 |
| Profit After Tax | -577.9 | -1,059.70 | -864.5 |
| EBITDA | - | - | - |
| NET Worth | 108 | 545.9 | 613.7 |
| Reserves and Surplus | 104.1 | 545.1 | 613.1 |
| Total Borrowing | 521.6 | 314.9 | 485.2 |
| ROE | - |
| ROCE | - |
| Debt/Equity | - |
| RoNW | -194% |
| PAT Margin | - |
| EBITDA Margin | - |
| Price to Book Value | - |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
Ather Energy Ltd. Address
3 rd Floor, Tower D,
IBC Knowledge Park,
#4/1 Bannerghatta Main Road,
Bangalore Urban, Karnataka, 560029
+91 80 6646 5750
cs@atherenergy.com
http://www.atherenergy.com/
IPO Registrar
MUFG Intime India Pvt.Ltd.
+91-22-4918 6270
atherenergy.ipo@linkintime.co.in
https://linkintime.co.in/Initial_Offer/public-issues.html