Electric vehicle company Ather Energy has fixed the price band for its upcoming IPO at Rs 304 to Rs 321 per share. The public issue will open for subscription on April 28, marking India’s first IPO launch after almost two months. Market experts believe other companies are closely watching Ather’s IPO before planning their own issues.
The anchor investors’ bidding will start on April 25. The IPO subscription window will remain open from April 28 to April 30. The basis of allotment will be announced on May 2, refunds will be initiated by May 5, and shares will be credited to demat accounts on the same day. Ather Energy’s stock is scheduled to be listed on the exchanges on May 6.
The IPO consists of a fresh issue of shares worth Rs 2,626 crore and an offer-for-sale (OFS) of up to 1.1 crore shares. At the upper price band, the OFS is expected to fetch about Rs 354.76 crore. The total IPO size has been reduced to around Rs 2,980.76 crore from the earlier planned Rs 4,000 crore. After the issue, the company is expected to have a valuation of around Rs 11,956 crore.
Ather Energy initially filed with a bigger $2.5 billion valuation but later scaled down to $2.4 billion owing to market conditions. A few experts have raised alarms concerning the last-minute reduction, arguing that this indicates a haste in going public.
Indian firms raised Rs 1.6 lakh crore via IPOs in 2024, but only nine firms raised approximately Rs 15,722 crore so far in 2025. Several companies are going to await Ather Energy’s response to its listing before taking a call to come out with their IPOs.
The revenue of Ather Energy for the nine months to December 2024 stood at Rs 1,578.90 crore, compared to Rs 1,230.40 crore a year earlier. The net loss of the firm also declined to Rs 577.90 crore compared to Rs 776.40 crore a year earlier.
Ather Energy will be the second Indian electric vehicle maker to be listed after Ola Electric.
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Source: Moneycontrol.
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