Ather Energy sets stage for IPO action in primary market after over 2 months; check GMP, other key details

Ather Energy IPO will open for public subscription from April 28 to April 30.

Ather Energy IPO GMP is trading flat at about 3 percent as the electric two-wheeler maker fixed the price band for its Rs 2,981 crore Initial Public Offering (IPO). 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 2024.

According to market observers tracking the grey market premium activities, the shares of Ather Energy are commanding a GMP of about 3.43 percent in the unofficial market. Investorgain quoted a GMP of Rs 11 for the shares of the company.

Ather Energy has fixed a price band of Rs 304 to Rs 321 a piece for its initial share sale, slated to begin next week on Monday.

The issue will be open for public subscription from April 28 to April 30. The bidding for anchor investors will open for a day on April 25, the company announced.

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The IPO will be a combination of fresh issue of equity shares worth Rs 2,626 crore, and an Offer-For-Sale (OFS) of 1.1 crore equity shares by promoters and other shareholders. The 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.

Ather intends to raise funds for the establishment of an electric two-wheeler factory in Maharashtra and for debt reduction. At the upper end of the price band, the IPO size is pegged at Rs 2,981 crore, placing the company's overall valuation at Rs 11,956 crore.

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