India-based electric vehicle manufacturer Ather Energy, headquartered in Karnataka, recently concluded its IPO subscription phase with an allotment date likely set for May 2, 2025. With a muted Grey Market Premium (GMP) and a total issue size of ₹2,981.06 crore, investors are now focused on the upcoming allotment and listing process.
Ather Energy, an electric vehicle (EV) manufacturer headquartered in Karnataka, India, is set to announce the allotment status of its initial public offering (IPO) by May 2, 2025. The EV firm, known for its high-performance electric scooters, concluded the IPO subscription phase on April 30, 2025, and investors are eagerly awaiting the next steps.
Ather Energy’s IPO received a subscription of 1.43 times, with retail investors oversubscribing their quota by 1.78 times, while the employee portion saw 5.43 times subscription. The company aims to raise ₹2,981.06 crore through a mix of fresh issue and offer-for-sale. The issue price band was set at ₹304–₹321 per share, and the listing is scheduled for May 6, 2025, on both the BSE and NSE.
Despite high interest, the Grey Market Premium (GMP) for Ather Energy shares remains at ₹0, indicating that the listing price may be at par with the issue price of ₹321 per share.
Link Intime India Private Ltd, the IPO registrar, will oversee the allotment process. Investors can check their allotment status through the BSE, NSE, or Link Intime websites using application number, PAN, or Demat account details.
The shares for successful applicants are expected to be credited to their Demat accounts on May 5, while refunds for unsuccessful applicants will also be processed the same day.
Book running lead managers for the IPO include Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India).
