Ather Energy IPO: resurfacing its 28% Day 2 subscription from April 2025; retail portion had fully subscribed
Ather Energy’s IPO was subscribed 28% overall by the end of Day 2 on April 29, 2025, while the retail investor quota reached full subscription, resurfacing now.
What happened
Ather Energy’s IPO was subscribed 28% by the end of Day 2, with the retail investor portion fully subscribed at 100%.
Key facts
- 28% overall subscription
- 100% retail portion subscription
- Day 2
- April 29, 2025
Why this matters
Ather’s retail-led IPO interest reinforces its strategic value as a differentiated premium EV platform, though prospective partners should watch final book quality for broader market validation.
What to watch
- Final subscription multiple, especially QIB book coverage and last-hour bidding acceleration.
- Grey-market premium direction and post-allotment retail demand indicators.
- Anchor allocation quality and concentration among long-only domestic versus short-term investors.
- Ola Electric share-price performance and broader Indian IPO-market risk appetite before listing.
- Any changes in EV subsidy policy, charging infrastructure incentives, battery-material costs or competitive discounting.
- Listing-day turnover, delivery percentage and opening-to-closing price action.
- Monitor final-day QIB, NII/HNI, employee and retail subscription data rather than headline overall demand alone.
- Track whether anchor investor participation converts into follow-on institutional bids.
- Compare implied valuation and IPO price band with listed EV peer Ola Electric and incumbent two-wheeler manufacturers.
- Prepare for elevated first-week trading volatility if retail demand remains disproportionately stronger than institutional demand.
- Watch management commentary on use of proceeds, manufacturing expansion, dealer growth, battery costs and pathway to profitability.