Ather Energy IPO's Day 2 subscription hit 28%, resurfacing an April 2025 update
Resurfacing an April 29, 2025 update: Ather Energy's initial public offering was subscribed 28% by the second day of bidding, signalling measured investor demand during that issue window.
What happened
Ather Energy’s IPO was subscribed 28% by the second day of bidding, according to an April 29, 2025 update.
Key facts
- 28%
- Day 2
- April 29, 2025
Why this matters
Moderate IPO demand may temper near-term sector valuation expectations, potentially creating more selective partnership and acquisition conditions across India’s EV ecosystem.
What to watch
- Final subscription crossing or failing to cross 1x overall.
- A late surge in qualified institutional buyer demand.
- Grey-market premium widening, flattening or turning negative before listing.
- Listing price versus issue price and first-week trading volume.
- Monthly electric two-wheeler registrations, Ather market share and discounting by rivals.
- Evidence that IPO proceeds accelerate capacity expansion without worsening losses.
- Track final-day category-wise subscription, especially QIB, NII/HNI and retail participation.
- Monitor grey-market premium and any revisions in IPO price-discovery commentary.
- Assess planned use of proceeds against Ather's manufacturing capacity, new-store rollout and battery/charging investments.
- Compare post-listing valuation and operating metrics with Ola Electric, TVS Motor, Bajaj Auto and Hero MotoCorp.
- Watch for management guidance on unit economics, market-share targets, product launches and cash-burn reduction.