The Ather Energy IPO is set to launch in 2025, with the issue closing in 2025. The Ather Energy IPO is structured as a Book Built Issue and aims to raise approximately ₹- crores. This will comprise a fresh issue of ₹3,100 crores along with an offer for sale of up to [-] equity shares, each with a face value of ₹1.
The Ather Energy IPO price band is set between ₹- and ₹- per share, with allocations divided as follows: 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The shares are expected to be listed on both the BSE and NSE in 2025, with the allotment process also scheduled for that year.
In 2024, the company generated ₹1,789.1 crores in revenue, down slightly from ₹1,801.8 crores in 2023. Meanwhile, its loss widened from ₹863.9 crores in 2023 to ₹1,062.3 crores in 2024. Given these financial trends, IPO investors are encouraged to view the offering as a long-term investment opportunity.
Ather Energy IPO Details
| IPO Open Date: | 2025 |
| IPO Close Date: | 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹- to ₹- Per Share |
| Issue Size: | Approx ₹- Crores |
| Fresh Issue: | Approx ₹3,100 Crores |
| Offer for Sale: | Approx [-] Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 10% |
| QIB Quota: | Not more than 75% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Ather Energy IPO Market Lot
The minimum market lot for the Ather Energy IPO is [-] shares, with an application amount of ₹-. Retail investors can apply up to 13 lots with [-] shares of ₹-.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
Ather Energy IPO Dates
The Ather Energy IPO will open in 2025, and close in 2025. Allotments will be finalized in 2025, with the shares listed in 2025.
| IPO Open Date: | 2025 |
| IPO Close Date: | 2025 |
| Basis of Allotment: | 2025 |
| Refunds: | 2025 |
| Credit to Demat Account: | 2025 |
| IPO Listing Date: | 2025 |
Ather Energy IPO Promoters
The following are the promoters of the company:
- Tarun Sanjay Mehta
- Swapnil Babanlal Jain
- Hero Motocorp Limited
About Ather Energy IPO
Ather Energy is a leading player in India’s electric two-wheeler (E2W) market. The company designs and manufactures electric scooters, battery packs, charging stations, and associated software and accessories.
Known for its innovation and leadership in electric mobility, Ather Energy designs all its products in India, emphasizing local innovation, sustainability, and quality.
With a strong focus on in-house manufacturing of battery packs and assembling its E2Ws, the company continuously drives creative solutions.
Notably, it was the first two-wheeler OEM in India to establish a fast-charging network, branded as the Ather Grid, and has sold 1,09,577 vehicles to date.
Ather Energy IPO Company Financial Report
In 2024, the company achieved a revenue of ₹1,789.1 crores, down from ₹1,801.8 crores in 2023, while its loss increased to ₹1,062.3 crores compared to ₹863.9 crores in the previous year.
Amount in Crores (₹)
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹413.8 | ₹757.9 | ₹344.6 | ₹818.6 |
| 2023 | ₹1,801.8 | ₹2,666.3 | ₹863.9 | ₹1,976.8 |
| 2024 | ₹1,789.1 | ₹2,674.2 | ₹1,062.3 | ₹1,913.5 |
Ather Energy IPO Valuation – FY2024
Here are the valuation details for the Ather Energy IPO, including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).
| KPI | Values |
| ROE: | –1.83% |
| ROCE: | -118.68% |
| EBITDA Margin: | -36% |
| PAT Margin: | -59% |
| Debt to equity ratio: | 0.88 |
| Earning Per Share (EPS): | –₹47 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | -194% |
| Net Asset Value (NAV): | ₹24 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Hero MotoCorp Limited | 187 | 30 | 21% | 884 | 37,788.6 Cr. |
| Bajaj Auto Limited | 273 | 40 | 29% | 935 | 44,870.4 Cr. |
| Ola Electric Mobility Limited | (4) | NA | (78%) | 6 | 5,009.8 Cr. |
| TVS Motors Limited | 36 | 78 | 26% | 143 | 39,144.7 Cr. |
| Eicher Motors Limited | 146 | 33 | 22% | 657 | 16,535.8 Cr. |
Objects of the Issue
- Allocate capital funds for establishing an Electric Two-Wheeler (E2W) manufacturing facility in Maharashtra, India.
- Use proceeds to fully or partially repay or prepay selected borrowings.
- Invest in research and development initiatives.
- Fund marketing and promotional activities.
- Support general corporate purposes.
Ather Energy IPO Review
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Ather Energy IPO Registrar
Link Intime India Private Limited
Phone: +91 81 0811 4949
E-mail: atherenergy.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Ather Energy IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- HSBC Securities and Capital Markets (India) Private Limited
- JM Financial Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Company Address
Ather Energy Limited
3rd Floor, Tower D, IBC Knowledge Park,
#4/1 Bannerghatta Main Road,
Bangalore 560 029,
Karnataka, India
Phone: +91 80 6646 5750
Email: cs@atherenergy.com
Website: https://www.atherenergy.com/
Ather Energy IPO FAQs
What is the Ather Energy IPO?
The Ather Energy IPO is a Mainboard listing where the company intends to raise ₹- crores by issuing equity shares priced between ₹- and ₹- each, and the IPO will be listed on both the NSE and BSE.
When does the Ather Energy IPO open for subscription?
The subscription period for the Ather Energy IPO starts in 2025 for QIB, NII, and Retail Investors and will close in 2025.
How is the investor allocation divided in the Ather Energy IPO?
The allocation is segmented as follows: 75% for QIB, 15% for NII, and 10% for Retail Investors.
How can I apply for the Ather Energy IPO?
Applications for Ather Energy IPO can be made online via ASBA through your bank account or by using UPI via your stockbroker’s platform. Alternatively, you may also apply offline by submitting a form through your stockbroker.
What is the total issue size of the Ather Energy IPO?
The Ather Energy IPO issue size is ₹-.
What is the Ather Energy IPO price band?
The Ather Energy IPO is priced between ₹- and ₹- each.
What is the minimum lot size for the Ather Energy IPO?
The minimum bid requires purchasing [-] shares, which amounts to ₹-.
When is the Ather Energy IPO allotment date?
The allotment for Ather Energy IPO is scheduled for 2025.
When will the Ather Energy IPO be listed on the stock exchanges?
The Ather Energy IPO is scheduled to be listed on both BSE and NSE in 2025.
Note: The Ather Energy IPO price band and dates are officially announced. (The Ather Energy IPO GMP details will be added to the IPO GMP page once they become available.)