Ather Energy IPO Day 1: Live GMP Update, Full Listing Details, What Experts Say? Is Ather IPO Worth Bidding?

The Ather Energy IPO has officially opened for subscription today, April 28, 2025, and will remain open until April 30th, Wednesday. Valued at Rs. 2,981.06 crore, this public offering comprises a fresh issue of Rs. 2,626.30 crore and an offer for sale (OFS) of ₹354.76 crore. Even though the company has a strong position in the electric two-wheeler market, the current Grey Market Premium (GMP) stands flat, raising questions about the IPO's immediate appeal.

Ather Energy IPO GMP Today

As per the latest data from Investorgain, the Ather Energy IPO GMP (Grey Market Premium) stands at Rs. 0 as of April 28, 2025, 07:55 AM. The IPO price band has been fixed between Rs.304 and Rs. 321 per share. Based on the current GMP, the estimated listing price for Ather Energy shares is Rs. 321, indicating an expected gain or loss of 0.00% per share. With no visible premium in the grey market, investor sentiment remains cautious, and market participants are closely monitoring the Ather Energy IPO subscription status and bidding trends over the next few days.

Ather Energy IPO Details

The Ather Energy IPO is a book-building public issue aggregating to Rs.2,981.06 crore. The IPO aims to raise funds through a combination of a fresh issue and an offer for sale (OFS). The fresh issue consists of 8.18 crore equity shares, amounting to Rs.2,626.30 crore. This capital will primarily be used for capacity expansion, research and development, marketing initiatives, and debt repayment. The Offer for Sale (OFS) includes 1.11 crore equity shares, worth ₹354.76 crore.

Ather Energy IPO Price

The Ather Energy IPO price band has been set between Rs. 304 and Rs. 321 per share, making it an attractive entry point for investors interested in the fast-growing electric vehicle (EV) segment.

The IPO subscription window opened on April 28, 2025, and will close on April 30, 2025. The shares will be listed on both the BSE and NSE, providing wider market access for retail and institutional investors. Ahead of the IPO, Ather Energy successfully raised ₹1,340 crore from anchor investors.

Listing Details

The Ather Energy IPO listing date is expected to be around the second week of May 2025, and investors are eagerly waiting to see how the stock performs on debut.

Should You Subscribe to Ather Energy IPO? Expert View

For Ather Energy IPO, expert opinions are divided. SBI Securities recommends investors to avoid subscribing to the IPO, highlighting key concerns such as the company's inability to achieve profitability at both EBITDA and PAT levels. They also point out the intensifying competition in the electric two-wheeler segment from major players like TVS Motors, Bajaj Auto, Hero MotoCorp, and the newly launched Honda Activa EV.

Additionally, SBI Securities mentions that at the upper price band of Rs.321, Ather Energy IPO valuation stands at 5.7 times its Price-to-Sales (P/S) ratio, making it an expensive proposition based on its current financials.

Their verdict is clear: "Investors are recommended to AVOID the issue. We will review the company's performance post listing."

About Ather Energy

"Ather Energy Ltd. is a leading pure-play electric vehicle (EV) company in India, specialising in electric two-wheelers (E2Ws) and offering an integrated ecosystem that includes proprietary charging infrastructure (Ather Grid), smart accessories, and its in-house developed software platform (Atherstack). The company operates a manufacturing facility in Hosur, Tamil Nadu, with an installed capacity of 420,000 electric two-wheelers and 379,800 battery packs annually. To further expand its production capabilities, Ather is constructing a new plant at Chhatrapati Sambhaji Nagar, Maharashtra, which will boost its total capacity to 1.4 million units per year. Ather Energy has built a robust distribution network comprising 265 experience centres and 233 service centres across India, along with a presence in Nepal and Sri Lanka. As of December 2024, the company achieved a strong localisation strategy by sourcing 99.9% of its E2W components domestically, excluding lithium-ion cells, reflecting its commitment to strengthening the local EV supply chain." as per SBI securities.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.