IPO: Ather Energy Opens For Subscription Today, Check GMP And Other Details Here

Electric scooter maker Ather Energy, headquartered in Bengaluru, is scheduled to open its maiden offering for the public on Monday. The company's initial public offering (IPO) will open for subscription for the public today and investors will be allowed to place their bids for the offer till April 30.  The company has priced the issue between the range of Rs 304 to Rs 321 apiece.

Recently, the firm revised the size of its IPO. Initially aiming to raise Rs 3,100 crore, the company has now scaled it down to Rs 2,626 crore. The adjustment reflected a more cautious fundraising approach, likely influenced by evolving market conditions. 

Instead of the previously planned 22 million shares, shareholders will now sell only 11.1 million shares. Among major stakeholders, Hero MotoCorp — which holds close to 40 per cent of Ather — has decided not to participate in the share sale. "Hero MotoCorp will not be selling any shares in the IPO," reaffirmed the company.

The firm is expected to finalise the allotment for the issue on May 2 and debut in the stock market on May 6. 

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Ather Energy IPO GMP

In the grey market, the firm is commanding a muted premium price of Rs 1 per share. This indicated a 0.31 per cent gain over its issue price, according to data from IPOJi. Grey market premium indicates the confidence investors feel towards an upcoming listing and how it will fare in the markets on its debut. A weak premium in the grey market shows concerns among traders and a lack of optimism surrounding the issue.

The grey market runs parallel to the official stock market and allows investors to place their bets for an issue before it formally begins trading on the BSE and NSE. 

Ather Energy: Journey and Market Challenges

Launched in 2013, Ather Energy quickly positioned itself among the early innovators in India’s electric two-wheeler segment. It introduced its first line of electric scooters in 2018, helping to lay the foundation for the sector's growth.

Despite its early lead, Ather has recently faced growing pressure from competitors such as Ola Electric and TVS Motor Company. These rivals have rapidly expanded their presence by leveraging broader dealership networks, aggressive pricing strategies, and deeper market reach.

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