Ather Energy Shares List At 2% Premium Over IPO Price

Electric two-wheeler maker Ather Energy Ltd made its stock market debut today, with its shares listing at a 1.57% premium on the BSE. Ather’s shares debuted at INR 326.05 apiece over the upper end of the IPO price of INR 321.

On the NSE, the stock opened at INR 328, a 2.18% premium against the issue price.

Ather Energy’s INR 2,981 Cr IPO comprised a fresh issue of INR 2,626 Cr and an offer-for-sale (OFS) of INR 355 Cr by existing shareholders.

The issue saw a lukewarm response from investors,

Of the total IPO proceeds, Ather has earmarked INR 927 Cr to establish an electric two-wheeler manufacturing facility in Maharashtra’s Chhatrapati Sambhajinagar. The company plans to kick off production from this facility in July 2026 in a phased manner and complete it fully by March 2027. The factory is expected to have a production capacity of 1 Mn electric two-wheelers per year upon completion of both phases.

For the nine months ended December 2024 (9M FY25), Ather reported a . However, this was a decline of about 26% from INR 776.4 Cr in the year-ago period.

Meanwhile, its operating revenue zoomed 28% to INR 1,578.9 Cr in the first three quarters of FY25 from INR 1,230.4 Cr in the same period last year, driven by a surge in EV registrations. Ather clocked 1.31 Lakh EV registrations in FY25, as per Vahan data.

(The story will be updated soon.)

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