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Ather Energy’s Rs3100 Cr IPO Oversubscribed 1.43 Times; Listing Slated for May 6

Ather Energy’s Rs3100 Cr initial public offering (IPO) closed on April 30, 2025, with an overall subscription of 1.43 times, reflecting strong investor interest, especially from retail investors and qualified institutions. The IPO price band was Rs304–Rs321 per equity share, and the issue size comprised 5.336 crore shares.

Retail investors led the demand with a 1.78x subscription, while qualified institutional buyers subscribed 1.7x. Non-institutional investors subscribed 0.66x, and the employee quota was oversubscribed 5.43x. Prior to the IPO, 41.75 million shares were allocated to 36 anchor investors, including seven domestic mutual funds, at Rs321/share.

The shares are expected to be listed on the BSE and NSE on May 6, 2025.

Ather will use Rs927 crore from the proceeds to build a new factory in Chhatrapati Sambhajinagar, Maharashtra, capable of producing 1 million electric two-wheelers annually by March 2027. Rs750 ceore will go into R&D for electric drivetrain components, a new motorbike platform, and charging tech. The company will also use Rs378 crore to repay debt, Rs300 crore for marketing, and the rest for corporate needs.

This IPO follows other clean energy filings, including Prozeal Green Energy, Continuum Green Energy, and NTPC Green Energy, showing rising public market interest in India’s clean tech sector.