Ather Energy IPO reaches 28% subscription on Day 2

Ather Energy’s IPO had drawn bids for 28% of the shares on offer by the second day of bidding, signalling measured investor demand for the electric two-wheeler maker.

— FiledSun, 13 Sept, 2026, 12:16 IST·First seen Sun, 13 Sept, 2026, 12:15 IST·Source Inc42 · Quick Commerce

What happened

Ather Energy’s IPO was subscribed 28% by the second day of bidding, according to the latest update.

Key facts

  • 28% subscription by Day 2

Why this matters

Measured IPO participation in Ather Energy may create opportunities for partners and acquirers to pursue EV two-wheeler alliances at more disciplined valuations.

What to watch

  • Final subscription multiple and QIB book coverage
  • Anchor allocation and institutional investor mix
  • Grey-market premium direction before listing
  • Issue-price valuation versus TVS Motor, Bajaj Auto and Ola Electric
  • Monthly Ather registrations, market-share trend and scooter launch cadence
  • Battery-cell, charger-network and working-capital spending disclosures post-listing
  • Track final-day category-wise subscription, especially QIB demand and employee/retail participation.
  • Assess anchor-investor quality, bid concentration and any grey-market premium changes before allotment.
  • Compare implied valuation with listed two-wheeler peers and EV competitors, focusing on volume growth, gross margin trajectory and path to profitability.
  • Watch whether rival EV brands increase promotions, dealer incentives or product launches after the IPO raises Ather's competitive visibility.

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