Ather Energy, which produces electric scooters, gets ready for listing on the stock market on Tuesday, May 6, while grey market sentiment remains muted.
Bengaluru’s Ather Energy, one of the major players in the electric vehicle (EV) industry and supported by marquee investors such as Tiger Global, will list its initial public offering (IPO) on Indian exchanges tomorrow. Ather Energy recently completed its IPO allotment, and investors can now see if they have been allotted shares.
Ather Energy IPO Latest Grey Market Premium (GMP)
As of Monday, May 5, Ather Energy’s grey market premium (GMP) is at ₹7 per share, meaning it will probably list at ₹328, which is just 2.18% over the upper price band of ₹321 at the IPO.
What Does This Mean?
Ather’s low GMP points to flat or subdued listing on its listing day.
GMP has cooled in recent trading sessions, signifying receding investor sentiment.
Check Ather Energy IPO Allotment Status
If you had applied for the Ather IPO, here’s how to see if shares have been allotted to you:
1. Through BSE Website
- Visit: https://www.bseindia.com
- Go to “Equity”
- Choose ‘Ather Energy Limited’
- Enter Application Number and PAN
- Enter captcha and click Submit
2. Through Link Intime India (Registrar)
- Visit: https://linkintime.co.in
- Select ‘Ather Energy’ from dropdown
- Enter PAN, Application Number, or Demat Account details
- Enter captcha and click Submit
Tip:
- Shares will be credited to demat accounts of successful applicants by May 5.
- Refunds to non-allottees are also being made today.
Ather IPO Subscription Highlights
The Ather Energy IPO that opened between April 28 to April 30 comprised:
- Fresh issue of shares aggregating ₹2,626 crore
- Offer for Sale (OFS) of 1.1 crore shares
Subscription Status:
| Category | Subscription Rate |
|---|---|
| Retail Investors | 1.78x |
| Qualified Institutional Buyers | 1.70x |
| Non-Institutional Investors | 0.66x |
| Employees | 5.43x |
| Overall | 1.43x |
Even though there was strong subscription from retail and QIBs, the NII segment underperformed, reflecting mixed investor sentiment.
How Ather Energy Plans to Utilize the IPO Proceeds?
Ather has given a clear roadmap of how it will deploy the IPO proceeds:
| Purpose | Amount (in ₹ crore) |
|---|---|
| New EV Manufacturing Plant (Maharashtra) | 927.2 |
| Research & Development | 50 |
| Marketing & Brand Outreach | 300 |
| Debt Repayment | 40 |
These investments would come on stream in FY26-FY28, in line with Ather’s long-term growth plans and plans to scale up operations pan-India.
What to Expect on Listing Day?
With a moderate GMP and a healthy subscription percentage, analysts project Ather Energy’s IPO to list flat or with minor gains. Long-term investors might pay closer attention, though, to:
- The firm’s plans for expansion
- Its market position in the EV space
- Coveted brand recognition in India
Key Takeaways
- Ather IPO to list on May 6, 2025
- Finalization of allotment and refunds done on May 5
- GMP indicates a probable listing price of ₹328
- IPO had 1.43x total subscription
- Long-term investments focus on manufacturing, R&D, and branding
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