Ather Energy IPO sees 16% subscription on Day 1; GMP remains flat

Ather Energy IPO subscription began on April 28 after mobilising Rs 1,340 crore from anchor investors days.

Ather Energy initial public offer (IPO) was subscribed 16 percent on the first day of subscription on April 28. The electric two-wheeler maker on Friday mobilised Rs 1,340 crore from anchor investors. The Rs 2,981-crore public issue is the first mainboard public issue of the current financial year (2025-26).

Retail individual investors (RIIs) showed strong interest, subscribing 63 percent. Non-institutional investors (NIIs) bid for 16 percent.

Ather Energy IPO with a price band of Rs 304 to Rs 321 a piece, will be available for public subscription from April 28 to April 30.

According to the platforms tracking the grey market premium activities, the shares of the company are commanding a flat GMP in the unlisted market.

The IPO is be a combination of fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders. Ather intends to raise funds for establishment of an electric two-wheeler factory in Maharashtra, and debt reduction.

Check All IPO News 

This will be the second electric two-wheeler company looking to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year. Ola Electric's IPO had a fresh issue of up to Rs 5,500 crore and an OFS of up to 8.5 crore equity shares.

The electric two-wheeler company has set aside 75 percent of the issue for qualified institutional buyers, 15 percent for non-institutional investors and the remaining 10 percent for retail investors.