Ather Energy’s much-anticipated IPO will open to public subscription on 28 April 2025 and close on 30 April 2025. This IPO has been structured as a Book Built Issue. The price can be determined based upon investor demand during the bid process.
Ather Energy intends to raise a combined amount of Rs2,980 Crores via this IPO. The offering includes a new issue of shares valued at Rs 2,626 crores and an Offer for Sale of up to 1,10,51,746 equity share with a nominal value of Rs 1 per share.
Ather Energy Price Bands and Quotas
The price range for the Ather Energy IPO is between Rs304 and R321 per share. The IPO allocation is classified as follows:
- Retail Investors: up to 10%
- Qualified Institutional buyers (QIBs), up to 75%
- HNIs: up to 15%
Ather Energy shares are expected to list on the BSE as well as NSE on May 5, 2025. The IPO date is expected to be May 1st, 2025.
Ather Energy: Financial Performance:
Ather Energy’s revenue in FY2024 was Rs1,789.1 Crores, a slight decrease from Rs1,801.8 Crores in FY2023. However, the company posted a net profit of Rs1,059.7 in FY 2024. This is a significant increase from its loss of Rs 864.5 in FY 2023.
Ather Energy, despite short-term losses in the electric vehicle sector (EV), may have a strong potential on the long term. Investors who are looking for long-term growth in green mobility should consider the IPO.
Ather Energy: Key Highlights
- The IPO will be open on April 28, 2025
- The IPO will close on April 30, 2025
- Face Value Rs1 for each equity share
- Price band Rs304 to Rs321 a share
- Total Issue Size Approx Rs2,980.73 Crores
- Fresh Issue Approx Rs2,626 Crores
- Offer for Sale (OFS), 1,10,51 746 equity shares
- Issue Type” Book Built Issue
Ather Energy IPO Lot Size & Investment Quantity
Retail investors are allowed to apply for Ather Energy IPO lots of 46 share, with a minimum amount of Rs14,766. Retail investors can apply for a maximum of 13 lots, which is equivalent to 598 share, and total Rs 1,91,958.
Ather Energy IPO Dates and Timeline
Ather Energy’s IPO will open on April 28th, 2025 and close on April 30th, 2025. On May 1, 2025 the basis for allotment is finalized, and on May 2nd credit will be credited to demat account. Shares are expected to list on the BSE and NSE stock markets on May 5, 2020.
- The IPO will be open on April 28, 2025
- The IPO will close on April 30, 2025
- Base of allotment on May 1, 2025
- Refunds will begin on May 2, 2025
- Credit to Demat accounts May 2, 2025
- Listing Date May 5, 2025
Ather Energy Promoters
Ather Energy’s promoters are Tarun Sanjay, Swapnil, Babanlal, Jain and Hero MotoCorp Limited. These key players were instrumental in building Ather Energy’s foundation, which combines technical innovation and strong automotive industry backing.
Ather Energy: Revolutionizing India’s EV Market
Ather Energy is one of India’s leading players in the electric two-wheeler segment. The company is a specialist in designing and manufacturing electric scooters and battery packs. It also manufactures fast-charging infrastructure, branded Ather Grid, as well as accessories and supporting software.
Ather is a unique company in India, as it is a native electric vehicle (EV). All its products are designed and engineered there. Ather maintains its own manufacturing facility, which allows for better control of quality, innovation and sustainability. The company is the first Indian original equipment manufacturer of two-wheeler electric vehicles (OEM) that has established a dedicated rapid-charging network. Ather has so far sold more than 1,09,577 scooters in India.
Ather Energy Financial Performance
Ather Energy, despite operating in a sector with high growth, has reported net losses for the last few years. The company reported a revenue of 1,789.1 crores for the year 2024. This is a slight decrease from the 1,801.8 crores it posted in 2023. The company’s net loss increased to Rs1,059.7 billion in 2024 from a loss that was Rs864.5 billion the previous year.
Ather Energy IPO Value Metrics – FY 2024
Here are some key metrics for investors to evaluate the fundamentals of a company. These numbers show the challenges of growth and areas that need improvement.
- Return on Equity (ROE): -1.83%
- Return on Capital Employed -118.68%
- EBITDA Margin: -36%
- Profit after Tax Margin: -59%
- Debt to Equity Ratio: 0.88
- Earnings per Share (EPS) (Basic): Rs 47
- Price-to Earnings (P/E), Not Applicable
- Return on Networth (RoNW), -194%
- Net Asset Value (NAV), Rs 24
Ather Energy IPO Key Dates & Peer Comparison
Investors preparing for the Ather Energy IPO should know how the company compares to its competitors in the two-wheeler and electric mobility segment. Here is a detailed comparison between Ather Energy and other major players in auto industry including Hero MotoCorp TVS Motors Eicher Motors Bajaj Auto.
Peer Group Comparison :
Here is a quick snapshot of the key financial metrics for top two-wheeler companies to give investors a more comprehensive perspective:
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Revenue (FY) |
|---|---|---|---|---|---|
| Hero MotoCorp Limited | 187 | 30 | 21% | ₹884 | ₹37,788.6 Crores |
| Bajaj Auto Limited | 273 | 40 | 29% | ₹935 | ₹44,870.4 Crores |
| Ola Electric Mobility Ltd | (4) | NA | –78% | ₹6 | ₹5,009.8 Crores |
| TVS Motors Limited | 36 | 78 | 26% | ₹143 | ₹39,144.7 Crores |
| Eicher Motors Limited | 146 | 33 | 22% | ₹657 | ₹16,535.8 Crores |
Ather Energy is a young company that operates in the space of electric two-wheelers. It currently makes a loss. Although its financials are not comparable to those of these established players yet, its innovative model and niche EV position set it apart as an investment that is geared towards growth in a rapidly evolving market.
Ather Energy IPO – Objects of Issue
The net proceeds of the Ather Energy IPO are being strategically allocated to business expansion, financial strengthening, and innovation. The red herring prospectus outlines the following key objectives:
Capital Expenditure on New E2W Manufacturing Facility
A portion of the capital raised will be used to build a modern electric two-wheeler manufacturing facility in Maharashtra. This is aimed at increasing production capacity and scaling up operations.
Repayment or prepayment of Borrowings
The funds will be used to prepay or repay certain existing debts. This will reduce interest costs and improve the debt-to equity ratio of the company.
Investment in Research & Development
Ather Energy puts a high emphasis on innovation. Part of the proceeds from the IPO will be used to fund R&D projects aimed at improving battery technology, electric drivetrains, and software capabilities.
Marketing & Branding Campaigns
The company will invest aggressively in marketing and promotional efforts to expand its market reach and customer base after the IPO.
General Corporate Purposes
The remainder of the funds will be used to meet day-to-day operations and corporate needs, such as working capital, talent acquisition and business expansion.
Ather Energy IPO Registrar
MUFG Intime India Private Limited
Phone: +91 81 0811 4949
E-mail: atherenergy.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
Axis Capital Limited
HSBC Securities and Capital Markets (India) Private Limited
JM Financial Limited
Nomura Financial Advisory and Securities (India) Private Limited
Company Address
Ather Energy Limited
3rd Floor, Tower D, IBC Knowledge Park,4/1 Bannerghatta Main Road,Bangalore 560 029,
Karnataka, India
Phone: +91 80 6646 5750