Ather Energy IPO reaches 28% subscription by end of Day 2
Ather Energy’s IPO was 28% subscribed at the close of the second day of bidding, signalling investor demand for the electric two-wheeler maker’s public-market debut.
What happened
Ather Energy’s IPO was 28% subscribed by the end of its second day of bidding, according to the latest update.
Key facts
- 28% subscribed
- Day 2
Why this matters
Ather Energy’s 28% Day 2 IPO subscription provides an early read on public-market appetite for electric two-wheeler assets, relevant for EV sector valuations, partnership leverage, and competitive dealmaking.
What to watch
- Overall subscription crossing 1x before close
- Qualified institutional buyer demand accelerating on the final day
- Retail subscription remaining materially below full coverage
- Grey-market premium direction and post-allotment sentiment
- IPO pricing versus comparable listed OEM and EV multiples
- Management guidance on EBITDA breakeven, capex, and cash runway
- Track investor-category subscription split, especially qualified institutional buyer participation, through the final bidding session.
- Watch for any extension, price-band revision, anchor-book disclosures, or changes in employee/retail participation.
- Benchmark implied valuation against listed two-wheeler and EV peers, focusing on sales growth, gross-margin trajectory, market share, and path to profitability.
- Prepare for heightened post-listing scrutiny of vehicle volumes, dealer expansion, battery supply costs, and marketing spend.