After nearly two months of silence on the IPO front, the buzz is finally back on Dalal Street. And this time, it’s electric. Tiger Global-backed Ather Energy is firing up the engines with its much-awaited public issue, set to open on April 28.
More interestingly, it is also important to note that this is the first major mainboard IPO since February and is already drawing attention for more than just its EV pedigree. With a blend of high-tech innovation, investor interest, and growth plans, here are 7 key details that make the Ather Energy IPO worth watching.
Ather Energy IPO dates: April 28 to April 30
The Ather Energy IPO will open for public subscription on Monday, April 28 and close on Wednesday, April 30. Ahead of this, the anchor investor bidding will take place on Friday, April 25.
Ather Energy IPO: Price band and lot size
The price band of this IPO is set between the range of Rs 304 and Rs 321 per share, with each share having a face value of Re 1. Retail investors can bid in lots of 46 shares, and in multiples of 46 thereafter. So, the minimum investment would be around Rs 14,000-Rs 15,000, depending on the final price.
Ather Energy IPO: Investor allocation breakdown
Ather has followed the standard book-built issue structure with 75% of the offer is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors
In addition to this, 1,00,000 shares have been reserved for eligible employees, who will get a Rs 30 per share discount.
Ather Energy IPO Issue size: Fresh issue and offer for sale
The Ather Energy IPO will consist of two components. A fresh issue of shares worth Rs 2,626 crore, which will help fund expansion, product development, and charging infrastructure. Moreover, an offer for sale (OFS) of 1.11 crore shares, allowing existing investors to partially exit or reduce their holding.
Ather Energy IPO: Allotment and listing timeline
If all goes according to schedule, the allotment of the shares is expected to be finalized on Friday, May 2 and refunds will begin from Monday, May 5. Shares will be credited to investors demat accounts on the same day. The company will list on NSE and BSE on Tuesday, May 6.
Ather Energy IPO: Lead managers and registrar
The IPO is managed by a team of book running lead managers which includes Axis Capital, HSBC Securities, JM Financial, and Nomura Financial.
The registrar for the issue is Link Intime India, which will handle all IPO-related investor queries and logistics.
Ather Energy IPO: About the company
Ather is not just another EV company. It is a tech-driven electric mobility brand. The Bengaluru-based firm designs and manufactures electric two-wheelers (E2Ws) and has built an ecosystem around them, including charging stations, smart dashboards, vehicle control units, and proprietary software
Most of the technology is developed in-house, though some components like motors and chargers are made by external suppliers.