About
Ather Energy was established in 2013. It is an EV company that focuses on designing and developing electric two-wheelers (E2W), battery packs, and charging infrastructure from the ground up in India. Currently, Ather’s lineup includes two models, the Ather 450 and the Ather Rizta, comprising seven variants. In FY 2024, Ather captured approximately 11.5% of the market with sales of 1,09,577 E2Ws, securing the third position behind Ola Electric and TVS Motor Company. As of March 31st 2024, Ather has 208 experience centres and 191 service centres in India, and 3 experience centres and 1 service centre in Nepal.
Issue size
| Funds to be raised in the IPO |
Amount |
| Overall |
₹ 2980.76 crores |
| Fresh issue |
₹ 2626 crores |
| Offer for sale |
₹ 345.76 crores |
Financial Snapshot
| Financial Year Ended |
March 2022 |
March 2023 |
March 2024 |
December 2024 |
| Total Assets |
818.6 |
1,976.8 |
1,913.5 |
2,172.0 |
| Revenue |
413.8 |
1,801.8 |
1,789.01 |
1617.4 |
| Profit After Tax |
-344.1 |
-864.5 |
-1,059.7 |
-577.9 |
Strengths
- In-house R&D delivers innovative features like touchscreen dashboards.
- Quality focus allows the company to sell products at a premium price.
- Excels in performance scooters and is diversifying into motorcycles.
- Manufacturing expanded to 2,66,850 E2Ws per year by 2024.
Risks
- Negative cash flows from operations since incorporation.
- Limited to two products, heavily reliant on Ather 450X sales.
- Heavily dependent on key management, changes may impact the company.
Allotment Status for Ather Energy
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IPO Schedule
| Issue Period |
28 April to 30 April 2025 |
| Price band |
₹304 - ₹321 |
| Minimum Bid quantity |
46 shares |
| UPI Mandate Deadline |
5 PM, 30 April 2025 |
| Allotment Finalization |
05 May 2025 |
| Refund Initiation |
05 May 2025 |
| Share Credit |
05 May 2025 |
| Listing Date |
06 May 2025 |
| Mandate end date |
15 May 2025 |
| Lock-In End Date for Anchor Investors (50%) |
02 June 2025 |
| Lock-In End Date for Anchor Investors (Remaining) |
02 August 2025 |
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