Ather Energy IPO Day 3 GMP Highlights (April 30): Check last day subscription numbers, listing date and other details

• Qualified Institutional Buyers (QIBs) -- 1.70
• Non Institutional Investors(NIIS) -- 0.66
• Retail Individual Investors (RIIs) -- 1.78
• Employee Reserved-- 5.43
• Total - 1.43

According to GMP-tracking platform investorgain.com, the latest grey market premium (GMP) for Ather Energy's IPO stands at Re 1. Based on the upper price band of Rs 321, the estimated listing price is Rs 322. This reflects an anticipated gain of 0.31% per share.

• Qualified Institutional Buyers (QIBs) -- 1.68
• Non Institutional Investors(NIIS) -- 0.65
• Retail Individual Investors (RIIs) -- 1.70
• Employee Reserved -- 5.22
• Total -- 1.41

• Ather Energy IPO continues to garner robust subscription on Wednesday as the Rs 2,981 crore issue was fully subscribed on the last day of bidding. Earlier, it mobilised Rs 1,340 crore from anchor investors.
• The initial public offer by the electric two-wheeler maker Ather Energy received bids for 5.42 crore shares against 5.33 crore shares on offer, according to data available with the NSE with a total subscription of 1.02 times until 1:20 PM.

• Qualified Institutional Buyers (QIBs) — 1.09
• Non Institutional Investors(NIIS) — 0.34
• Retail Individual Investors (RIIs) — 1.43
• Employee Reserved — 4.15
• Total — 0.95

Link Intime India has been appointed as the registrar for the public offering, while Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are serving as the book-running lead managers.

Ather Energy will not gain any funds from the offer for sale, as the proceeds will be directed to the promoters who are offloading their shares. However, the company intends to utilize the funds raised through the fresh issue to finance capital expenditure for setting up an electric two-wheeler (E2W) manufacturing facility in Maharashtra, India. The funds will also support the repayment or prepayment of select borrowings, investment in R&D, marketing efforts, and other general corporate activities.

• Qualified Institutional Buyers (QIBs) — 0.00
• Non Institutional Investors(NIIS) — 0.30
• Retail Individual Investors (RIIs) — 1.31
• Employee Reserved — 3.79
• Total — 0.33

Ather Energy has received largely positive reviews from various brokerages, which remain confident in the company's long-term outlook. Analysts at Arihant Capital and Ventura Securities have suggested subscribing to the Ather Energy IPO to capitalize on potential listing gains. In contrast, Geojit and Bajaj Broking have recommended subscribing with a focus on long-term investment. However, Deven Choksey Research has advised against participating in the IPO, indicating that the stock might be available later in the secondary market at a more appealing valuation.

Ather Energy's IPO comprises both a fresh issue of shares and an offer for sale (OFS), with existing promoters and shareholders offloading a portion of their stake. The company has announced a price band of Rs304 to Rs321 per share for the public issue. The minimum lot size is set at 46 shares, meaning investors must apply for at least 46 shares and in multiples of that number thereafter.

• Qualified Institutional Buyers (QIBs) -- 0.00
• Non Institutional Investors(NIIS) -- 0.27
• Retail Individual Investors (RIIs) -- 1.12
• Employee Reserved -- 3.18
• Total -- 0.28

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Ather Energy introduced its first model, the Ather 450, in June 2018. It was the pioneer in India’s electric two-wheeler (E2W) segment to feature connected technologies like a 3G SIM card, touchscreen dashboard, aluminum chassis, and cloud integration.

India's electric two-wheeler market is expected to grow at a compound annual growth rate (CAGR) of 41% to 44%, with market penetration anticipated to increase from 5.1% in FY24 to 35-40% by FY31.

Ather Energy, which is gearing up for its IPO, has stated it won't pursue 'discount-driven volumes' and instead plans to boost domestic lithium-ion cell production to strengthen its supply chain. In an exclusive interview with Moneycontrol on April 29, CEO and co-founder Tarun Mehta revealed that the company’s planned capacity expansion aims to scale up production to 5 lakh units per year, with a focus on expanding its presence beyond southern India.

Hero MotoCorp is preparing to give up its special rights in Ather Energy after the latter’s forthcoming initial public offering (IPO). As outlined in Ather’s IPO prospectus, Hero currently enjoys several preferential privileges, including the right to appoint a board observer and access confidential information like board meeting minutes.

Today is the last chance to bid for the Ather Energy IPO, which opened on April 28, 2025. The IPO is priced in the range of Rs 304 to Rs 321 per equity share. Stay with us for Day 3 subscription trends and other business news