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Allotment

Ather Energy Limited

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.

Ather Energy Limited IPO & Charts
₹321

0%

Open

₹321

HIgh - Low

₹321

Previous Close

₹321

Total Traded Value

0

52 Weeks High

₹321

52 Weeks Low

₹321

Updates On

Apr 21, 2025

IPO. Open

Apr 28, 2026

IPO. Close

Apr 30, 2026

IPO. Price

₹321.00

IPO Market price

₹11,955.96 Cr

IPO Details

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 Timeline

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

IPO Reservation

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

IPO Lot Size

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
About Company

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.

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Company Financials (Consolidated)

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

Key Performance Indicator (KPI)

ROE -
ROCE -
Debt/Equity -
RoNW -194%
PAT Margin -
EBITDA Margin -
Price to Book Value -
IPO Objective

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) -

Contact Details

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/

Detail Registrar

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

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