Ather Energy's IPO Rides into Market with Promising Subscription

Ather Energy, an electric two-wheeler manufacturer, launched its IPO, receiving a 16% subscription on its first day. The public issue totals Rs 2,981 crore, with a valuation of Rs 11,956 crore. Major investors include Axis Capital and JM Financial. This marks the first mainboard IPO of the financial year.

Ather Energy's initial public offering (IPO), launched with an ambitious financial target, garnered a 16% subscription on the opening day of bidding. The electric two-wheeler maker received bids for 86,09,406 shares against the 5,33,63,160 shares offered, according to National Stock Exchange data.

The IPO comprises a fresh issue of shares worth Rs 2,626 crore and an offer-for-sale by promoters and stakeholders. The public offering is pitched at a price band of Rs 304-321 per share, totaling Rs 2,981 crore, and placing the company's valuation at approximately Rs 11,956 crore.

This IPO, a significant event being the first of the financial year 2025-26, follows Ola Electric Mobility's public offering. Ather has raised Rs 1,340 crore from anchor investors, with Axis Capital and JM Financial among the lead managing firms.

(With inputs from agencies.)