Ather Energy IPO reaches 28% subscription on Day 2
Ather Energy’s IPO had been subscribed 28% by the close of the second day of bidding, signalling investor demand during the current offer period.
What happened
Ather Energy’s IPO was subscribed 28% by the end of its second day of bidding.
Key facts
- 28%
- Day 2
Why this matters
Ather’s partial Day 2 subscription signals that strategic partners and potential acquirers may have room to assess valuation expectations before the public-market price is fully validated.
What to watch
- Final subscription level exceeds 1x, with QIB demand materially stronger than retail demand.
- Final subscription remains below 1x or requires a late anchor/institutional rescue.
- Grey-market premium turns persistently negative or expands significantly ahead of allotment.
- Management commentary on pricing, losses, market-share strategy and use of IPO proceeds.
- Post-listing sales data for electric scooters and competitive pricing actions from Ola Electric, TVS, Bajaj and Hero MotoCorp.
- Monitor final-day subscription by QIB, NII and retail categories rather than aggregate demand alone.
- Track grey-market premium and any changes in institutional participation for indications of expected listing performance.
- Watch whether Ather emphasizes capital deployment toward manufacturing capacity, charging infrastructure and product development after listing.
- Expect listed EV peers and prospective IPO candidates to face closer scrutiny on unit economics, subsidy exposure and path to profitability.