Ather Energy IPO opens on April 28; check price band, lot size, issue amount & more
The IPO of Ather energy includes a fresh share sale of Rs 2,626 crore and offer-for-sale (OFS) of up to 1,10,51,746 equity shares by its promoters and existing shareholders.


- Apr 23, 2025,
- Updated Apr 23, 2025 11:21 AM IST
The initial public offering (IPO) of Ather Energy shall kick-off for bidding on Monday, April 28. The Hero MotoCorp-backed electric two-wheeler maker shall be selling its shares in the range of Rs 304-321 apiece. Investors can apply for a minimum of 46 equity shares and its multiples thereafter, until Wednesday, April 30, when the issue closes for subscription.
Bengaluru-based Ather Energy was incorporated in 2013. It is a pure-play electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. It operates as a vertically integrated EV manufacturer with a focus on product and technology development.
The IPO of Ather energy includes a fresh share sale of Rs 2,626 crore and offer-for-sale (OFS) of up to 1,10,51,746 equity shares by its promoters and existing shareholders. Net-net, the company is looking to raise a total of Rs 2,980.46 crore via IPO. Anchor issue shall open for bidding on Friday, April 25. It will be the first IPO of FY26.
The net proceeds from the fresh share sale shall be utilized towards capital expenditure to be incurred by the company for establishment of an E2W factory in Maharashtra; repayment or pre-payment of certain borrowings; investment in research and development; expenditure towards marketing initiatives; and general corporate purposes.
This IPO marks the end of a drought of main board issues after a gap of nearly 10 weeks. Last issue on the mainboard IPO was Quality Power Electrical Equipments, which ran for bidding 14-18 February, before the correction in the stock market. No mainboard IPO has been announced in this span of 69 days.
Ather Energy sold 1,07,983 E2Ws and 1,09,577 E2Ws in the nine months ended December 31, 2024 and financial year 2023-24, respectively. It had 265 experience centres and 233 service centres in India, five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka as of December 31, 2024.
Ather's manufacturing is carried out at the Hosur Factory in Tamil Nadu, which had an annual installed capacity of 420,000 electric vehicles and 379,800 battery packs as of March 2024. It had 303 registered trademarks, 201 registered designs and 45 registered patents as of February 28, 2025, in addition to pending applications for 102 trademarks, 12 designs and 303 patents.
For the nine months ended on March 31, 2025, Ather Energy reported a net loss of Rs 577.9 crore, with a revenue of Rs 1,617.4 crore. The company's net loss stood at Rs 1,059.7 crore with a revenue of Rs 1,789.1 crore in the financial year 2023-24. Its total borrowing stood at Rs 1,121.6 crore as of December 31, 2024.
Ather Energy has reserved 1,00,000 equity shares for its eligible employees who will get a discount of Rs 30 per share during the IPO. 75 per cent of the net issue has been reserved for qualified institutional bidders, while 15 per cent of the net offer shall go to the non-institutional bidders. Only 10 per cent of shares from the net issue shall be allocated to the retail investors.
Axis Capital, HSBC Securities & Capital Markets, JM Financial, Nomura Financial Advisory and Securities (India) are the book running lead managers of the Ather Energy IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with May 6 as the tentative date of listing.
The initial public offering (IPO) of Ather Energy shall kick-off for bidding on Monday, April 28. The Hero MotoCorp-backed electric two-wheeler maker shall be selling its shares in the range of Rs 304-321 apiece. Investors can apply for a minimum of 46 equity shares and its multiples thereafter, until Wednesday, April 30, when the issue closes for subscription.
Bengaluru-based Ather Energy was incorporated in 2013. It is a pure-play electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. It operates as a vertically integrated EV manufacturer with a focus on product and technology development.
The IPO of Ather energy includes a fresh share sale of Rs 2,626 crore and offer-for-sale (OFS) of up to 1,10,51,746 equity shares by its promoters and existing shareholders. Net-net, the company is looking to raise a total of Rs 2,980.46 crore via IPO. Anchor issue shall open for bidding on Friday, April 25. It will be the first IPO of FY26.
The net proceeds from the fresh share sale shall be utilized towards capital expenditure to be incurred by the company for establishment of an E2W factory in Maharashtra; repayment or pre-payment of certain borrowings; investment in research and development; expenditure towards marketing initiatives; and general corporate purposes.
This IPO marks the end of a drought of main board issues after a gap of nearly 10 weeks. Last issue on the mainboard IPO was Quality Power Electrical Equipments, which ran for bidding 14-18 February, before the correction in the stock market. No mainboard IPO has been announced in this span of 69 days.
Ather Energy sold 1,07,983 E2Ws and 1,09,577 E2Ws in the nine months ended December 31, 2024 and financial year 2023-24, respectively. It had 265 experience centres and 233 service centres in India, five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka as of December 31, 2024.
Ather's manufacturing is carried out at the Hosur Factory in Tamil Nadu, which had an annual installed capacity of 420,000 electric vehicles and 379,800 battery packs as of March 2024. It had 303 registered trademarks, 201 registered designs and 45 registered patents as of February 28, 2025, in addition to pending applications for 102 trademarks, 12 designs and 303 patents.
For the nine months ended on March 31, 2025, Ather Energy reported a net loss of Rs 577.9 crore, with a revenue of Rs 1,617.4 crore. The company's net loss stood at Rs 1,059.7 crore with a revenue of Rs 1,789.1 crore in the financial year 2023-24. Its total borrowing stood at Rs 1,121.6 crore as of December 31, 2024.
Ather Energy has reserved 1,00,000 equity shares for its eligible employees who will get a discount of Rs 30 per share during the IPO. 75 per cent of the net issue has been reserved for qualified institutional bidders, while 15 per cent of the net offer shall go to the non-institutional bidders. Only 10 per cent of shares from the net issue shall be allocated to the retail investors.
Axis Capital, HSBC Securities & Capital Markets, JM Financial, Nomura Financial Advisory and Securities (India) are the book running lead managers of the Ather Energy IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with May 6 as the tentative date of listing.