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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹2980.76 Cr |
| Fresh Issue | ₹2626.04 Cr |
| Offer for Sale | ₹354.73 Cr |
| Face Value | ₹1 Per Equity Share |
| Price Band | ₹304.00-321.00 per share |
| Discount | Retail: 0.00,Employee: 30.00 |
| BSE Code | 544397 |
| NSE Code | ATHERENERG |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers | JM Financial Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 46 shares and in multiples thereof
Ather Energy Limited, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development.
The company sold 107,983 E2Ws and 109,577 E2Ws in the nine months ended December 31, 2024 and Fiscal Year 2024, respectively.
As of December 31, 2024, we had 265 experience centres and 233 service centres in India, five experience centres and four service centres in Nepal, and ten experience centres and one service centre in Sri Lanka.
The company's product ecosystem includes Ather Grid, a public fast-charging network for two-wheelers, and Atherstack, a proprietary software platform with 64 connected features as of July 2024.
Manufacturing is carried out at the Hosur Factory in Tamil Nadu, which had an annual installed capacity of 420,000 electric vehicles and 379,800 battery packs as of March 2024.
As of February 28, 2025, globally, the company had 303 registered trademarks, 201 registered designs and 45 registered patents, in addition to pending applications for 102 trademarks, 12 designs and 303 patents.
Ather’s strategy is built on four pillars: Vertically integrated design and engineering, A software-defined product ecosystem, Premium market positioning and Capital-efficient operations.
As of March 31, 2024, Ather Energy employed 2,454 people, including 1,458 on-roll employees and 996 off-roll staff.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure to be incurred by the Company for establishment of an E2W factory in Maharashtra, India. | 927.20 |
| 2 | Repayment/pre-payment, in full or part, of certain borrowings availed by the Company. | 40.00 |
| 3 | Investment in research and development. | 750.00 |
| 4 | Expenditure towards marketing initiatives. | 300.00 |
| 5 | General Corporate Purposes | 492.20 |
| 6 | Issue Expenses | 132.80 |
| Total | 2,642.20 |
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 2,172.00 | 1,913.50 | 1,976.80 | 818.60 |
| Total Income | 1,617.40 | 1,789.10 | 1,801.80 | 413.80 |
| Profit After Tax | -577.90 | -1,059.70 | -864.50 | -344.10 |
| NET Worth | 108.00 | 545.90 | 613.70 | 224.90 |
| Reserves and Surplus | 104.10 | 545.10 | 613.10 | 224.20 |
| Total Borrowing | 521.60 | 314.90 | 485.20 | 298.40 |
| Amount in ₹ Crore | ||||
| KPI | Mar 31, 2024 |
|---|---|
| RoNW | -194% |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | -47.00 | |
| Promoter Holding | 54.61% | 42.09% |
| Market Cap | ₹11955.96 Cr. | |
