Ather Energy IPO subscribed 15% so far on day 1; here's a look at its financials

Ather Energy IPO has been subscribed 15% so far on Monday, the first day of bidding. The issue will end on Wednesday, April 30.

The portion reserved for retail individual investors (RIIs) has been booked 59%, as it received bids for 57,54,140 shares against 97,34,319 shares on offer.

The non-institutional investors (NIIs) quota was subscribed 15%. Of the 1,46,01,478 shares reserved for the category, bids have been received for 22,00,456 shares until 3:52 pm, according to consolidated data on the National Stock Exchange (NSE).

Ather Energy's ₹2,981.06 crore initial share sale is a mix of a fresh issue aggregating to ₹2,626 crore and an offer-for-sale of 1.11 crore shares.

The price range is set as ₹304 to ₹321 per share, and the minimum lot size is 46 shares, needing a minimum investment of ₹13,984.

Ather Energy IPO objectives

• Capital expenditure to establish an electric two-wheeler facility in Maharashtra
• Repayment of certain borrowings
• Marketing initiatives
• Invest in research and development
• General corporate purposes

The basis of allotment will be finalised on Friday, May 2. The listing on the NSE and the BSE will take place on May 6.

Before the issue, the company raised ₹1,340 crore in the anchor round from investors such as Eastspring Investments, Abu Dhabi Investment Authority, Morgan Stanley Investment Management, Custody Bank of Japan, Societe Generale, PSBI Mutual Fund (MF), Aditya Birla Sun Life MF, ITI MF, Aditya Birla Sun Life Insurance, Invesco MF, ICICI Prudential MF, and Union MF.

Ather Energy IPO: Here's a look at financials

Revenue from operations stood at ₹1,789.1 crore in FY25 as against ₹1,801.8 crore in FY24.

For the nine-month period ended December 2024, the net loss and revenue were ₹599.2 crore and ₹1,617.4 crore, respectively.