Ather Energy Shares Listed with 2% Premium on BSE and NSE

Electric two-wheeler manufacturer Ather Energy debuted on Dalal Street on Tuesday, May 6, with its shares listing at a modest premium. Ather Energy shares opened at ₹328 on the NSE, marking a 2.18% gain over the issue price of ₹321. On the BSE, it was listed at ₹326.05, reflecting a 1.6% premium.

Aether IPO Subscription Details

The ₹2,981 crore initial public offering (IPO) saw a lukewarm response, particularly from non-institutional investors. Here’s how the subscription broke down across categories:

• Retail investors: 1.78 times subscribed

• Qualified Institutional Buyers (QIBs): 1.70 times

• Non-Institutional Investors (NIIs): 66% subscribed

• Employees: Strong demand at 5.43 times subscribed

The IPO, open between April 28 and April 30, offered shares in a price band of ₹304–₹321 apiece.

IPO Structure and Use of Funds

Backed by Tiger Global, Ather Energy reduced its IPO size from the originally planned amount, as indicated in its prospectus. The offering included:

• A fresh issue of 8.18 crore shares worth ₹2,626 crore

• An offer for sale (OFS) of 1.1 crore shares by promoters and corporate stakeholders, including Tarun Sanjay and Swapnil Babanla

Proceeds from the IPO will be directed towards:

• Setting up a new manufacturing facility in Maharashtra

• R&D investments

• Debt repayment

• Marketing and brand building

• General corporate purposes

Ather Energy Market Position

Ather Energy’s IPO is the first major mainboard listing of FY26, positioning it as India’s second pure-play electric vehicle company to go public, following Ola Electric’s debut in 2024. The IPO was managed by Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India), with Link Intime India serving as the registrar.

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