Following its Rs 2,980 crore initial public offering (IPO), shares of Ather Energy made muted debut on bourses on Tuesday (May 6, 2025). On the NSE, the stock listed at Rs 328, marking a premium of 2.18 per cent over its issue price of Rs 321, while on the BSE, it listed at Rs 326.05, reflecting a 1.57 per cent premium.
The electric two-wheeler maker, closed its initial public offering (IPO) on April 30 with a strong overall subscription rate of 1.5 times. The company received bids for 7.67 crore shares, exceeding the 5.11 crore shares on offer. The retail investor category was fully subscribed, with a 1.89 times subscription rate. The Qualified Institutional Buyers (QIBs) portion saw a subscription of 1.76 times, while the Non-Institutional Investor (NII) category received a subscription of 0.69 times.
The IPO comprised a fresh issue of Rs 2,626 crore and an offer-for-sale (OFS) of Rs 354 crore, with a price band of Rs 304–Rs 321 per share. At the upper end of the price range, Ather Energy’s market capitalisation is valued at approximately Rs 12,300 crore.
Deployment of funds
Ather Energy plans to utilise the proceeds from the IPO for several key initiatives, including the establishment of a new manufacturing facility, research and development, debt reduction, and marketing. The proposed allocation of funds is as follows:
Establishment of an electric two-wheeler manufacturing plant in Maharashtra: Rs 927.2 crore
Investment in Research and Development (R&D): Rs 750 crore
Marketing and brand-building efforts: Rs 300 crore
Repayment of borrowings: Rs 40 crore
Company overview
Founded in 2013 by IIT-Madras alumni Tarun Mehta and Swapnil Jain, Ather Energy is a vertically integrated electric vehicle (EV) manufacturer, focusing on the design, development, and assembly of electric two-wheelers, battery packs, charging infrastructure, and proprietary software solutions.
In FY24, the company sold 1,09,577 electric two-wheelers, demonstrating robust growth in the EV market. As of December 2024, Ather had established 265 experience centres and 233 service centres across India, in addition to a growing international presence in Nepal and Sri Lanka.
Ather’s ecosystem includes Ather Grid, a fast-charging network for two-wheelers, and Atherstack, a proprietary software platform with 64 connected features, offering enhanced user experiences.
The company manufactures its vehicles at a facility in Hosur, Tamil Nadu, with an annual capacity of 4.2 lakh electric vehicles and 3.8 lakh battery packs, as of March 2024.
By February 2025, Ather had registered 303 trademarks, 201 designs, and 45 patents, with additional applications pending.
Ather’s business strategy is built on four pillars:
- Vertically integrated design and engineering
- A software-defined product ecosystem
- Premium market positioning
- Capital-efficient operations
As of March 2024, the company employed 2,454 people, including 1,458 on-roll employees and 996 off-roll staff.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
