Ather Energy IPO resurfacing: 28% subscription on Day 2 from April 2025
Resurfacing a late-April 2025 update: Ather Energy's public issue was subscribed 28% by the second day of bidding on April 29, 2025, offering an early read on investor appetite for the electric two-wheeler maker.
What happened
Ather Energy’s IPO was subscribed 28% on its second day of bidding, April 29, 2025.
Key facts
- 28% subscribed
- Day 2
- April 29, 2025
Why this matters
Measured IPO participation provides a market-based read on electric two-wheeler sentiment, informing partnership, competitive-benchmarking and transaction timing assessments.
What to watch
- QIB subscription acceleration or continued under-subscription on the final day.
- Retail participation relative to the employee and shareholder reservation portions.
- Any revision in grey-market premium before allotment.
- Final subscription multiple and bid quality at the top end of the price band.
- Post-listing performance versus issue price and broader Indian auto/EV equity indices.
- Updates on Ather sales growth, market share, gross margin and cash-burn trajectory.
- Track final-day category-wise subscription, especially QIB and non-institutional investor demand.
- Assess the final issue price and valuation against listed two-wheeler and EV peers.
- Monitor grey-market indications and anchor-investor participation for signals on expected listing performance.
- Watch management commentary on use of proceeds, manufacturing expansion, charging infrastructure and path to profitability.
- Evaluate whether a subdued IPO outcome changes fundraising conditions for other Indian EV and mobility companies.