Ather Energy IPO: Resurfacing April 2025 Day 2 update where retail quota was fully subscribed; overall book reached 28%

Resurfacing a report that Ather Energy's IPO was subscribed 28% by the second day of bidding on April 29, 2025, according to Inc42. The retail investor portion was fully subscribed, signalling stronger individual-investor demand than the overall book.

— Filed Mon, 17 Aug, 2026, 12:46 IST · First seen Mon, 17 Aug, 2026, 12:45 IST · Source Inc42 · Quick Commerce

What happened

Ather Energy's IPO was subscribed 28% by the second bidding day on April 29, 2025, while the retail investor portion was fully subscribed.

Key facts

  • 28% overall subscription
  • 100% retail portion subscription
  • Day 2 of bidding
  • April 29, 2025

Why this matters

The split between retail enthusiasm and softer overall demand indicates Ather has consumer-brand appeal, while strategic buyers should assess whether its operating fundamentals support that sentiment.

What to watch

  • Overall subscription crossing 1x, especially QIB subscription above 1x.
  • A material late-day increase in non-institutional investor participation.
  • Grey-market premium sustaining or falling below issue-price expectations.
  • Post-listing price action and first-week trading volumes.
  • Ather disclosures on quarterly deliveries, gross margin trajectory, cash burn, and planned capacity/dealer investment.
  • Monitor final-day QIB and HNI subscription levels rather than retail demand alone.
  • Track grey-market premium and any revision in analyst views on valuation, losses, market share, and use of proceeds.
  • Compare listing performance with other recent Indian growth-company IPOs to gauge risk appetite.
  • Watch whether competing two-wheeler EV firms accelerate fundraising, product launches, dealer expansion, or price incentives after the listing.

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