Ather Energy IPO hit 28% subscription on Day 2, resurfacing an April 2025 update
Ather Energy's IPO was subscribed 28% by Day 2 of bidding, according to an April 29, 2025 update now resurfacing. The electric two-wheeler maker's public-market debut is a capital-markets signal for India's consumer EV sector.
What happened
Ather Energy’s IPO was reported 28% subscribed on its second day, with the update published on April 29, 2025.
Key facts
- 28% subscribed
- Day 2
- 0.24x subscription (URL)
Why this matters
Ather’s subdued Day 2 subscription pace may temper near-term EV deal valuations, creating an opportunity to prioritize partnerships or acquisitions with differentiated technology, distribution, and after-sales capabilities.
What to watch
- Final subscription multiple and category-level allocation data.
- Extent of last-day QIB book building.
- Grey-market premium direction before listing.
- Issue pricing at the top, middle, or bottom of the price band.
- Opening-day and first-week trading performance.
- Monthly electric two-wheeler registrations, market-share changes, and dealer-network expansion after listing.
- Competitive pricing, incentives, and product launches from Ola Electric, TVS, Bajaj, Hero MotoCorp, and other rivals.
- Monitor final-day category-wise subscription, especially QIB and retail participation.
- Track anchor investor composition and the final issue-price outcome versus the indicated valuation range.
- Compare listing performance with Ola Electric and other Indian consumer-EV public-market benchmarks.
- Watch whether Ather uses IPO proceeds to accelerate retail expansion, charging infrastructure, and product launches or prioritizes balance-sheet support.
- Assess follow-on effects on private-market valuations and fundraising timelines for Indian electric two-wheeler startups.