Ather Energy IPO GMP Price Date Details

Ather Energy is an electric vehicle company founded in 2013 in Bengaluru that breeds next-generation electric vehicles in the Indian market. Launched in 2013 by Tarun Mehta and Swapnil Jain, the Electric two-wheeler manufacturer company Fellini is primarily focused on manufacturing the premium E2Ws. Ather Energy has recently manufactured electric scooters such as the Ather 450 series and Ather Rizta which incorporates new generation innovations with the aspect of a green environment.

The company has also built electronic infrastructure to back up its vehicles i.e; the software platform dubbed Atherstack and the charging network called Ather Grid. A major channel strategy that Ather Energy has adopted to achieve the goal is vertical integration strategy, which gives a complete experience to its customers.

Ather Energy was thus started with a dream to bring efficient and a technology-based transport solution to India. The organisation has significant venture capitalist partners such as Tiger global and Hero motocorp which remains a major stockholder of Ather energy.

Who is Ather Energy?

Ather Energy is a perfect example of electric Two-wheeler brand that creates and domestics electric two-wheelers through innovation and targets a premium market segment. The establishment of those elements of the vehicle that include the motor controllers, dashboards, and chassis within the company distinguishes the company from other players in the market. At the same time, thanks to its responsible position of the company and focus on environmentally friendly and customer-oriented products, Ather Energy has a loyal audience.

Key Details of the Ather Energy IPO

The Ather Energy IPO is one of the most anticipated public offerings in India’s EV sector. Here are the key details:

IPO Dates: The IPO is going to be opened on April 28, 2025 and will be closed on April 30, 2025.
Ather Energy IPO Price: The issue is priced at ₹ 304 and ₹ 321 for every equity share.
Lot Size: The minimum lot size that investors can place a bid is 46, and one can bid in lots after that.
IPO Size: The aggregate offer size which effectively the number of securities offered consists of a fresh issue (FRESH ISSUE) of ₹2,626 crore and offer for sale through an Offer for Sale (OFS) of 1.1 crore equity shares by the existing shareholders.
Allocation:
- 75% reserved for Qualified Institutional Buyers (QIBs).
- 15% for Non-Institutional Investors (NIIs).
- 10% for Retail Investors.
Listing Date: Shares are expected to be listed on May 6, 2025, on both BSE and NSE.

Ather Energy IPO Details

IPO Open Date:	April 28, 2025
IPO Close Date:	April 30, 2025
Face Value:	₹1 Per Equity Share
IPO Price Band:	₹304 to ₹321 Per Share
Issue Size:	Approx ₹2,980 Crores
Fresh Issue:	Approx ₹2,626 Crores
Offer for Sale:	Approx 1,10,51,746 Equity Shares
Issue Type:	Book Built Issue
IPO Listing:	BSE & NSE
Retail Quota:	Not more than 10%
QIB Quota:	Not more than 75%
NII Quota:	Not more than 15%

Ather Energy IPO Dates Complete Details

IPO Open Date:	April 28, 2025
IPO Close Date:	April 30, 2025
Basis of Allotment:	May 1, 2025
Refunds:	May 2, 2025
Credit to Demat Account:	May 2, 2025
IPO Listing Date:	May 5, 2025

NAPS Global India IPO Dates and Timeline

IPO Open Date	Tue, Mar 4, 2025
IPO Close Date	Thu, Mar 6, 2025
Tentative Allotment	Fri, Mar 7, 2025
Initiation of Refunds	Mon, Mar 10, 2025
Credit of Shares to Demat	Mon, Mar 10, 2025
Tentative Listing Date	Tue, Mar 11, 2025
Cut-off time for UPI mandate confirmation	5 PM on March 6, 2025

Financial Performance: A Detailed Analysis

Ather Energy has shown significant improvement in its financial performance over the years:

Revenue Growth: The company reported increased sales of its electric scooters, particularly the Ather Rizta, which contributed to narrowing its losses.
Profitability: Losses reduced from ₹776 crore in the previous year to ₹578 crore for the nine months ending December 2024.
Operational Efficiency: Ather Energy has focused on optimizing its manufacturing processes and expanding its product portfolio to drive growth.

Ather Energy Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	1,913.50	1,976.80	818.6
Revenue	1,789.10	1,801.80	413.8
Profit After Tax	-1,059.70	-864.5	-344.1
Net Worth	545.9	613.7	224.9
Reserves & Surplus	545.1	613.1	224.2
Total Borrowing	314.9	485.2	298.4

Financial Performance Snapshot

Assets

FY 2021–22: ₹818.6 Crore
FY 2022–23: ₹1,976.8 Crore
FY 2023–24: ₹1,913.5 Crore

Analysis: Investment in manufacturing plants and technology is the primary reason that has made the company’s assets to expand significantly in the two financial years of compare- FY 2021–22 to FY 2022–23. Company assets also reduced to some extent during FY 2023–24 which might suggest cost cutting measures.

Revenue

FY 2021–22: ₹413.8 Crore
FY 2022–23: ₹1,801.8 Crore
FY 2023–24: ₹1,789.1 Crore

Analysis: The revenue growth of Ather Energy has been on the increase, which went up to ₹413.8 crore in the FY fastest to ₹1,801.8 crore in the FY 2022–23. There are some fluctuations in the year FY 2023–24 where the revenue was preserved at some level due to market conditions or trends maybe because of competition and supply rates.

Profit After Tax (PAT)

FY 2021–22: ₹-344.1 Crore
FY 2022–23: ₹-864.5 Crore
FY 2023–24: ₹-1,059.7 Crore

Analysis: However, Ather Energy has not been able to turn its revenue growth into profitability and has continued to report operating and net losses that have worsened from ₹-344.1 crore in the year 2021–22, to ₹-1,059.7 crore in the year 2023–24. Such a trend shows that the company is expanding and new technology which has led to an increase in expenditure for the time being.

Net Worth

FY 2021–22: ₹224.9 Crore
FY 2022–23: ₹613.7 Crore
FY 2023–24: ₹545.9 Crore

Analysis: It rose to its highest level in FY 2022–23 at ₹ 613.7 crore, mainly due to the capital, especially from foreign sources and increase in financial support. But, erosion of ₹545.9 cr in FY 2023–24 mentions continuous operational losses negating previous increases in equity.

Reserves & Surplus

FY 2021–22: ₹224.2 Crore
FY 2022–23: ₹613.1 Crore
FY 2023–24: ₹545.1 Crore

Analysis: Various mostly relate with net worth results and prove a strong equity buffer in terms of reserves and surpluses. The minor decrease of FY 2023–24 signifies that Ather Energy may experience some setbacks when it comes to balancing investments and financial stability.

Total Borrowing

FY 2021–22: ₹298.4 Crore
FY 2022–23: ₹485.2 Crore
FY 2023–24: ₹314.9 Crore

Analysis: Records reveal that the maximum borrowing stood at ₹ 485.2 crores in the FY 2022–23 since the firm may have used the funds for capital expenditure and working capital in its expansion projects. A betterment to ₹314.9 crore in FY 2023–24 is furthermore an attempt to deleverage and enhance its debt profile.

Revenue Growth and Profitability

Thus, one may conclude that the growth of the revenue in Ather Energy is resulting from an increased demand for electric two-wheelers in the Indian market. The company managed to sell 107983 E2Ws by the end of the nine months up to December 2024, showing that the company has responsiveness in managing operational capacity.

The company wants to establish a Greenfield facility in Maharashtra for an amount of ₹927 crore and also earmark ₹750 crore for research and development. These are aimed at increasing production capacity, quality and introducing new technologies in the production process.

Ather Energy IPO GMP and Market Sentiment

As of now, the Grey Market Premium (GMP) for the Ather Energy IPO is ₹7 which can be classified as average. Although they have ranged between ₹7 and ₹17 in the recent sessions, it appears to show that the players in the market are hopeful.

The gross proximity to the rounded listing price of ₹330 means they are at the upper price band of ₹321 which could constitute a slight premium. The GMP trend implies that the IPO is receiving attention while at the same time it may face relatively small oversubscription.

The Global Consumption of Battery-Powered Vehicles | Here are the arguments for and against investing in the Ather Energy IPO

Several factors determine the investment on Ather Energy IPO:

Should You Invest in the Ather Energy IPO?

Investing in the Ather Energy IPO depends on several factors:

Reasons to Consider Investing

Growth Potential: Ather Energy is in the EV marketers that is considered still emerging, and thus has huge potential to grow in the future.
Improving Financials: Another aspect that can be noted in the current financial statement is that the company is improving and growing in terms of its operations and specifically its losses.
Valuation: From the valuation perspective, the IPO at the upper price band does not appear to be overrated as it is still competitive with similar companies like Hero MotoCorp and Bajaj Auto.
Strong Market Position: This refers to the fact that Ather Energy is placed to benefit from the opportunities of the market that has set out to offer innovative and premium quality products in the market.

Risks to Consider

Competitive Landscape: Rivals like Ola Electric and TVS Motors pose significant competition.
Profitability Concerns: The company is not profitable and thus a possibility of sustaining a profitable run may take some time.
Market Sentiment: The moderate GMP reveals rather conservative buyers’ sentiment on the market, which may affect listing increases.

Conclusion

To introduce, the current IPO for Ather Energy gives investors a chance to invest in one of the leading electric vehicles manufactures of India. Looking at the aspect of innovation, ecosystem, as well as the improvement of the financial aspects, it is evident that this firm is poised for the delivery of EVs in the market.

Nonetheless, a closer look into the risks and market trends will be necessary before one can invest in them. necessary for the reduction of risks associated with the dependency of its revenue sources, non-sustainability of growth rates besides being important for its general operation it is crucial for the IPO to happen so that Ather Energy can sustain a competitive edge competitively in the ever growing market of EV’s.

Also Read : Best Options Trading Courses in India

FAQ'S

What is the IPO price band?

The IPO price band is set between ₹304 and ₹321 per share.

When is the IPO opening and closing?

Anchor investor bidding: Begins on April 25, 2025
Public subscription: Opens on April 28, 2025, and closes on April 30, 2025

What is the IPO size and structure?

Fresh issue: ₹3,100 crore
Offer for Sale (OFS): 2.2 crore equity shares by existing shareholders

What will the IPO proceeds be used for?

The Ather Energy IPO funds will be allocated as follows:

₹927.2 crore for setting up a new electric two-wheeler factory in Maharashtra
₹378.2 crore for debt repayment
₹750 crore for R&D over five years
₹300 crore for marketing initiatives
Remaining funds for general corporate purposes

Who are the major shareholders participating in the OFS?

Prominent investors like Tiger Global, Caladium Investments, NIIF, and 3State Ventures are participating in the OFS. Co-founders Tarun Mehta and Swapnil Jain will also offload a portion of their holdings. Hero MotoCorp, holding a 37.2% stake, will not sell any shares.

Revenue (FY24): ₹1,753 crore
Net loss (FY24): ₹1,059 crore
Cash reserves: ₹506 crore
Customer base: 114,000 as of March 2024

What are the key risks mentioned in the DRHP?

Dependence on the adoption of electric two-wheelers
Potential defects in products or components
Impact of reduced government incentives
Supply chain disruptions, especially concerning lithium-ion cell

Who are the lead managers and registrar for the IPO?

Lead Managers: Axis Capital, HSBC Securities and Capital Markets (India), JM Financial, and Nomura Financial Advisory & Securities (India) Pvt Ltd
Registrar: Link Intime India Pvt Ltd