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Ather Energy IPO - Ather Energy Limited IPO Details
Ather Energy is a pure-play EV company manufacturing electric two-wheelers (E2Ws) and associated ecosystem products (software, charging infrastructure, accessories). Ather Energy is headquartered in Bengaluru. It was founded by Tarun Mehta and Swapnil Jain in 2013. It manufactures electric scooters including two models, the Ather 450 and the Ather Rizta, comprising seven variants.
Ather Energy IPO Details
Key Information
Offer Details
Total Issue Size: 9,28,58,599 shares (₹2,980.76 Cr)
Fresh Issue: 8,18,06,853 shares (₹2,626.00 Cr)
Offer for Sale: 1,10,51,746 shares (₹354.76 Cr)
Share Structure
Face Value: ₹1 per share
Lot Size: 46 shares
Pre-Issue Shares: 29,06,43,469
Post-Issue Shares: 37,24,50,322
Investment Calculation
Min Investment (1 lot):
₹304 × 46 = ₹13,984
₹321 × 46 = ₹14,766
Cut-off time for UPI:
5 PM on April 30, 2025
Important Timeline
Some dates are tentative and subject to change. Please verify with official sources before making investment decisions.
About the Ather Energy Limited
Ather Energy was established in 2013. Ather Energy Limited 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.
Ather Energy designs and manufactures premium electric scooters in India. The company makes its own battery packs using lithium-ion cells bought from suppliers, while other parts like electronics, chassis, chargers, and motors are sourced from external partners. Ather assembles its scooters in-house. Its product lineup includes two main models—the Ather 450 and the Ather Rizta—with seven different variants. A key differentiator is AtherStack, the company’s own smart software, which powers features like navigation, ride analytics, safety alerts, and connectivity. Ather’s scooters are positioned as high-quality, tech-enabled vehicles with premium pricing.
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, company 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 March 31, 2024, Ather Energy employed 2,454 people, including 1,458 on-roll employees and 996 off-roll staff.
Overview of the IPO
Ather Energy IPO is a bookbuilding of Rs 2,980.76 crores. The issue is a combination of fresh issue of 8.18 crore shares aggregating to Rs 2,626.00 crores and offer for sale of 1.11 crore shares aggregating to Rs 354.76 crores.
Ather Energy IPO opens for subscription on April 28, 2025 and closes on April 30, 2025. The allotment for the Ather Energy IPO is expected to be finalized on Friday, May 2, 2025. Ather Energy IPO will be list on BSE, NSE with a tentative listing date fixed as Tuesday, May 6, 2025.
Ather Energy IPO price band is set at ₹304 to ₹321 per share. The minimum lot size for an application is 46. The minimum amount of investment required by retail investors is ₹13,984.
Financials of Ather Energy Limited
| Period Ended | 31-Mar-22 | 31-Mar-23 | 31-Mar-24 | 31-Dec-24 |
| Assets | 818.60 | 1,976.80 | 1,913.50 | 2,172 |
| Revenue | 413.80 | 1,801.80 | 1,789.10 | 1,617.40 |
| Profit After Tax | -344.10 | -864.50 | -1,059.70 | -577.90 |
| Net Worth | 224.90 | 613.70 | 545.90 | 108 |
| Reserves and Surplus | 224.20 | 613.10 | 545.10 | 3,346.60 |
| Total Borrowing | 298.4 | 485.2 | 314.9 | 1,121.60 |
Objectives of Ather Energy IPO
The Company Ather Energy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Capital expenditure to be incurred by the Company for establishment of an E2W factory in Maharashtra, India. | 9,272 |
| 2 | Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company. | 400 |
| 3 | Investment in research and development. | 7,500 |
| 4 | Expenditure towards marketing initiatives. | 3,000 |
| 5 | General corporate purposes. |