Ather Energy IPO's 28% Day 2 subscription resurfaces from an April 2025 update
Ather Energy's IPO was subscribed 28% by the close of bidding on its second day, resurfacing an April 29, 2025 update. The subscription trajectory was a near-term signal for investor appetite ahead of the issue's close.
What happened
Ather Energy’s IPO was subscribed 28% by the end of its second day of bidding, according to an April 29, 2025 update.
Key facts
- 28%
- Day 2
- April 29, 2025
Why this matters
Ather Energy’s Day 2 subscription level provides a timely EV-sector valuation and investor-demand benchmark for assessing fundraising windows, deal terms, and strategic partnership opportunities.
What to watch
- Final subscription multiple and category-wise demand, especially QIB participation.
- Any extension, price-band revision, anchor-book commentary or issue-size adjustment.
- Grey-market premium direction between final bidding day and listing.
- Listing-day premium/discount, traded volume and post-listing price support.
- Ather monthly registrations, market-share trends, margin disclosures and cash-burn guidance after listing.
- Competitive actions from Ola Electric, TVS, Bajaj and Hero MotoCorp, including pricing, incentives and new model launches.
- Monitor final-day bookbuilding by QIB, NII/HNI and retail categories rather than aggregate subscription alone.
- Track grey-market premium and any change in indicated demand as a real-time read on expected listing performance.
- Compare implied valuation with listed EV and auto peers on revenue growth, unit economics, gross margin and path-to-profitability.
- Watch whether weak demand affects the pace or valuation expectations of planned Indian EV, mobility and consumer-tech listings.
- Assess whether a soft listing pressures private-market marks and fundraising terms for competing electric two-wheeler manufacturers.