The IPO of ₹ 2,981-CORE or ATher Energy opens today for public subscription. The two -wheeled electric vehicle manufacturer (E2WS) has set the price band in ₹ 304–321. All eyes are in Ather Energy, since this is the first IPO on the main plate for fiscal year 26. His great success could cause a series of companies to launch OPI soon.
The OPI includes a new issuance of ₹ 2,626 million rupees and an offer for sale (OFS) or 1.1 million capital shares by the promoters and other shareholders existing for ₹ 354.75 million rupees. The market lot is 46 shares.
Discount to employees
The OPI has assigned at least 75 percent of the shares to qualified institutional buyers (QIB), no more than 15 percent to non -institutional investors (NII), and up to 10% for retail investors. In addition, up to 1 LAKH of equity actions have a leg reserved for employees, who will receive a ₹ 30 discount per action.
Sellers in the OFS window
The promoters (Tarun Mehta and Swapnil Jain) and other shareholders, including Caladium Investment PTE, National Investment and Infrastructure Fund II (IFRS II), Iit-Madras Incubation Cell Corporate and Iithms Rural Technology Technology. However, Hero Motocorp, which has a 38.2 percent participation in the EV Startup, is not selling any action in the OPI.
Investor anchor
As part of the OPI exercise, Ather Energy on Friday raised ₹ 1,340 million rupees of anchor investors, including several marquee names.
The Ather Energy Board, in consultation with the book that executes the main managers: Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited Limited Limited Limited ₹ 321 per action.
The Anchor Investors Include Franklin Offshore, Abu Dhabi Investment Authority, Societe Generale, BNP Paribas, Morgan Stanley, SBI Mutual Fund, Investco MF, ICICI Prudential Mutual Fund, Aditya Sun Lifs, Esta Life, Eastment, Eastment, Eastment, Eastment, Eastment, Eastment, Eastment, Eastment, Eastment EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, EASTMENT, SUNDALD, EASTMENT, SUNDALD, SUNDALD, SUNDALD, SUNDALD, SUBSTAL, SUNTUAL, SUTITUAL LIFE LIFE LIFE LIFE LIFE LIFE LIFE LIFE LIFE LIFE LIF Life Life Life Life Life Life Life SuncualssssssSepseprate. Prudential Hong Kong, Tocu Europe III SARL, Tata Investment Corporation and Union Innovation & Opportunities.
Fund utility
Of the ₹ 2,626 million rupees that will be collected through the new theme, ₹ 927.2 million rupees will be assigned to establish a new manufacturing installation of two electric wheels in Maharashtra. They are allocated to ₹ 750 million additional rupees for investments in research and development, while ₹ 300 million rupees will be used for marketing initiatives. The company also plans to use ₹ 40 million rupees for debt reimbursement.
Ather Financial Performance
The company’s income revenues decreased slightly in fiscal year24 to ₹ 1,753.8 million rupees compared to ₹ 1,780.9 million rupees in the fiscal year23. The fall was attributed to the reduction in the fastest adoption and manufacture of electrical subsidies (fame), which caused effect on June 1, 2023. This effectively increased the retail price of its two electric wheels (E2WS), which led to a fall in sales.
However, ATher E2W sales volume increased after the launch of new variants, including ATHT 450X (2.9 KWh), ATHTRO 450S (its lower price model) and the ATer 450 Apex (its most premium model). The income of these new partial variators compensate for the decrease in the income of the previous E2W models, he said in his RHP filed before Sebi.
Ather will be the second two-wheeled company to become public after Ola Electric, who appeared in August 2024 with a pricing band of ₹ 72-76 per action. The action is ruling around ₹ 50. According to VAHAN data by March 2025, Ather sold 15,446 vehicles. Bajaj Auto led the segment with 34,863 units, followed by TVS Motor at 30,454, and Ola Electric to 23,430 units.
Posted on April 28, 2025
