The initial public offering (IPO) of electric vehicle maker Ather Energy concluded on Wednesday, April 30. The 3-day bidding period for the IPO commenced on April 28. Moreover, the issue included fresh shares and offer for sale (OFS) component.
Notably, the issue was subscribed 1.43 times on the final day. Non-institutional investors (NIIs) subscribed 0.66% of the allocated quota. Meanwhile, qualified institutional buyers (QIBs) booked 1.70 times against their allocated quota and retail portion was subscribed 1.78 times.
This issue of Rs 2,981.06 crore comprises fresh shares of worth Rs 2,626.30 crore and OFS worth Rs 354.76 crore. Ather Energy is likely to finalize the allotment for the IPO on May 2, 2025 and the issue is expected to be listed on the BSE, and NSE on May 5, 2025.
The price band for the IPO has been kept Rs 304–321 apiece, with the lot size of 46 shares. Any retail investor willing to subscribe require a minimum of Rs 14,766 to bid for one lot. Moreover, the company has kept the maximum limit of Rs 1,91,958 to bid for the maximum of 13 lots for retail investors.
According to media reports, the Grey Market Premium (GMP) for the company’s IPO stands at Rs 0, which means the unlisted shares of the company were trading at Rs 311 per share in the grey market.
Ather Energy has appointed Link Intime India as the registrar for the issue. Meanwhile, Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) has been appointed as the book-running lead managers.
How To Check Allotment Status?
On BSE’s Website
- Go on the official website of BSE.
- Choose ‘equity’ in the Issue Type.
- In the Issue Name dropdown list, select ‘Ather Energy Limited’.
- Provide application number or PAN.
- Click on ‘Search’ option.
On Registrar’s Website
- Go on the website of IPO registrar, Link Intime.
- In the Select Company dropdown menu, choose ‘Ather Energy Limited’.
- Provide PAN, application number, DP ID or account number.
- Provide the required details.
- Tab on the ‘Search’ option.
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