Ather Energy IPO: Tiger Global-backed E2W maker's ₹2,981-crore issue to open on Monday; GMP to price—10 key points

Ather Energy IPO: Ather Energy will kick off action in the primary market this month with its highly awaited initial public offering (IPO) following a pause of two and a half months. On April 22, the electric scooter manufacturer submitted a draft red herring prospectus for its IPO to the Securities and Exchange Board of India (Sebi).

Ather Energy IPO price band has been set between ₹304 and ₹321 per equity share, with a face value of Re 1. The allocation of shares for anchor investors in the Ather Energy IPO is expected to take place on Friday, April 25.

Ather Energy IPO: Here are 10 key things to know

Ather Energy IPO date: Ather IPO opens for subscription on Monday, April 28, and closes on Wednesday, April 30.

Ather Energy IPO price band: Ather IPO price band has been fixed in the range of ₹304 to ₹321 per equity share of face value of Re 1.

Ather Energy IPO lot size: Ather IPO lot size is 46 equity shares and in multiples of 46 equity shares thereafter.

Ather Energy IPO details: The upcoming IPO consists of a fresh issuance of equity shares valued at ₹2,626 crore, alongside an offer-for-sale (OFS) of 1.1 crore equity shares by promoters and other shareholders.

Ather Energy IPO objective: Ather intends to allocated ₹927.2 crore of the total IPO proceeds to set up an electric two-wheeler manufacturing plant in Maharashtra, allocate ₹40 crore for debt repayment, invest ₹750 crore in research and development, and spend ₹300 crore on marketing initiatives. The utilization of these funds will occur over the fiscal years 2026 to 2028.

Ather Energy IPO GMP today or grey market premium is +40. This indicates Ather Energy share price were trading at a premium of ₹40 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ather Energy share price was indicated at ₹338 apiece, which is 5.30% higher than the IPO price of ₹321.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Ather Energy IPO reservation: Ather IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employees have been reserved upto 100,000 equity shares, with a discount of ₹30 per equity share.

Ather Energy IPO listing date and allotment details: The preliminary share allotment for the Ather Energy IPO is set to be determined on Friday, May 2, and refunds will be initiated by the company on Monday, May 5. Shares will be deposited into the demat accounts of allottees on the same day as the refunds. Ather Energy share price is expected to be listed on the BSE and NSE on Tuesday, May 6.

Lead Manager and Registrar of Ather Energy IPO: Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead managers for Ather IPO. Link Intime India Private Ltd is functioning as the registrar for this offering.

Company details 

Ather Energy is a specialised electric vehicle company that produces electric two-wheelers (E2Ws) along with a comprehensive ecosystem of products, including their proprietary software, charging networks, and smart accessories, all developed and designed in India.

Aside from battery packs, which are produced internally, and portable chargers and motors designed and made by third-party suppliers, key components of the E2Ws—such as motor controllers, transmissions, vehicle control units, dashboards, DC-DC converters, wiring harnesses, and chassis—are designed in-house and then outsourced to manufacturers for production.

From the total proceeds of the IPO, Ather plans to allocate ₹927.2 crore for establishing an electric two-wheeler manufacturing facility in Maharashtra, ₹40 crore for paying off debts, ₹750 crore for investments in research and development, and ₹300 crore for marketing strategies. These funds will be utilised over the fiscal years 2026 to 2028. 

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