Ather Energy share price rises nearly 8% a day after weak stock market debut

The stock was trading 7.9% higher at ₹326.2 apiece on the National Stock Exchange (NSE) at 12:14 pm.

The company's market valuation stood at ₹12,149.63 crore.

On Tuesday, the scrip was listed at ₹328, a premium of 2.18% over the issue price of ₹321 on the National Stock Exchange (NSE). On the BSE, the stock started the trade at ₹326.05, up 1.57%.

The ₹2,981-crore initial public offer had a price range of ₹304 to ₹321 per share.

Funds raised will be utilised for establishing an electric two-wheeler manufacturing facility in Maharashtra, research and development (R&D), debt clearance, marketing initiatives, and general corporate purposes.

Ather Energy's revenue from operations fell 3.2% to ₹1,913.5 crore in the financial year 2023-24 (FY24), compared to ₹1,976.8 crore in FY23. The net loss stood at ₹1,059.70 crore in FY24 as against the ₹864.5 crore net loss in the previous fiscal year.

Notably, this was the first mainboard IPO of the financial year 2025-26 (FY26).

The initial share sale was a combination of a fresh issue of equity shares valued at ₹2,626 crore and an offer-for-sale of more than 1 crore equity shares by promoters and other shareholders.

This is the second electric two-wheeler (E2W) firm to hit the stock market after Ola Electric Mobility Ltd floated its ₹6,145-crore public offer in August last year.