Ather Energy draws bullish analyst call as IPO lock-in expiry nears
A Financial Express archive spanning April–June 2025 flags HDFC Securities’ Buy call on Ather Energy, with a projected 31% upside, alongside investor attention on post-IPO lock-in expiry and EV supply-chain risks tied to China’s rare-earth curbs.
What happened
Ather Energy’s archive highlights HDFC Securities’ Buy rating and projected 31% upside, alongside IPO-related lock-in expiry, listing sentiment and EV-sector
Key facts
- 31% expected upside
- nearly 6% of Ather Energy and Borana Weaves shares
- May 29, 2025
- May 23, 2025
- June 10, 2025
- April 2025
Why this matters
Ather’s growth case reinforces the strategic value of EV ecosystem partnerships, while China-linked rare-earth risks heighten the need for localized sourcing and supply-chain resilience.
What to watch
- Lock-in expiry date and any disclosed shareholder sale plans
- Large block deals or a sharp rise in delivery volumes traded
- Monthly VAHAN registration data and Ather market-share changes
- China rare-earth export-control implementation details and Indian import availability
- Management commentary on magnet sourcing, production guidance and pricing actions
- Quarterly revenue growth, EBITDA margin and cash-burn performance
- New product launches, battery technology updates and dealer-network additions
- Track the size, timing and ownership concentration of shares becoming eligible for sale at lock-in expiry.
- Compare post-expiry delivery volumes, registrations and market share against Ola Electric, TVS, Bajaj and Hero MotoCorp.
- Watch for management disclosures on rare-earth magnet inventory, alternate suppliers, localization plans and expected cost impact.
- Assess whether institutional buying, block deals or promoter-related transactions absorb incremental free float.
- Monitor upcoming quarterly results for gross-margin trajectory, operating-loss reduction, dealer expansion and working-capital needs.