Ather Energy IPO Closed
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Schedule of Ather Energy
| Issue open date | 28 Apr 2025 |
| Issue close date | 30 Apr 2025 |
| UPI mandate deadline | 30 Apr 2025 (5 PM) |
| Allotment finalization | 02 May 2025 |
| Refund initiation | 05 May 2025 |
| Share credit | 05 May 2025 |
| Listing date | 06 May 2025 |
| Mandate end date | 15 May 2025 |
| Lock-in end date for anchor investors (50%) | 02 Jun 2025 |
| Lock-in end date for anchor investors (remaining) | 02 Aug 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Ather Energy
Founded in 2013, Ather Energy Limited is an Indian electric vehicle manufacturer focused on premium electric two-wheelers. The company designs, develops, and assembles its scooters, battery packs, and charging infrastructure in-house, operating under a vertically integrated model. Its product lineup includes the Ather 450 series and Ather Rizta, supported by the Ather Grid fast-charging network and the proprietary Atherstack software platform. Ather serves urban mobility needs across India and select international markets. With over 100,000 vehicles sold in FY24 and a growing network of experience centres and service facilities, Ather has established itself as a significant player in India’s EV sector.
Financials of Ather Energy
Issue size
| Funds to be Raised in the IPO | Amount |
| Overall | ₹ 2981 crores |
| Fresh Issue | ₹ 2626 crores |
| Offer for Sale | ₹ 354.76 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 927.2 (32.62%) |
| Repayment/prepayment of borrowings | 40 (1.34%) |
| Research and development | 750 (25.15%) |
| Marketing | 300 (10.06%) |
| General corporate purposes | 608.8 (23.17%) |
*All figures are in ₹ Crores.
Strengths
- In-house R&D delivers innovative features like touchscreen dashboards.
- Quality focus allows the company to sell products at a premium price.
- Excels in performance scooters and is diversifying into motorcycles.
- Manufacturing expanded to 2,66,850 E2Ws per year by 2024.
Risks
- Negative cash flows from operations since incorporation.
- Limited to two products, heavily reliant on Ather 450X sales.
- Heavily dependent on key management, changes may impact the company.
Allotment Status for Ather Energy
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Subscription Figures for Ather Energy
Subscription numbers as of 5:00 PM on 30 Apr 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 289.27 | 486 | 1.68x |
| HNI (₹2L+) | 146.01 | 95.32 | 0.65x |
| Retail (upto ₹2L) | 97.34 | 166.31 | 1.70x |
| Employees | 1 | 5.22 | 5.22x |
| Total | 533.63 | 752.87 | 1.41x |