Ather Energy IPO sees retail quota fully subscribed by Day 2
Ather Energy’s IPO was subscribed 28% overall by the second day of bidding, while the retail investor portion was fully booked at 100%.
What happened
Ather Energy’s IPO was subscribed 28% by the second day, while the retail investor portion was fully subscribed at 100%.
Key facts
- 28% overall subscription by Day 2
- 100% retail portion booked
Why this matters
Strong retail participation supports Ather’s brand resonance, though the incomplete overall subscription may temper valuation expectations and deal momentum.
What to watch
- QIB subscription approaching or exceeding 1x on the final bidding day.
- NII/HNI participation accelerating, indicating stronger confidence beyond retail investors.
- A sustained increase or decline in grey-market premium.
- Broad equity-market volatility or weak performance in Indian auto/EV shares during the offer period.
- Any disclosures or commentary on valuation, losses, subsidy exposure, battery sourcing, or competitive pressure from Ola Electric, TVS, Bajaj, and Hero.
- Monitor daily category-wise subscription, especially QIB and NII/HNI demand.
- Track grey-market premium and whether it rises after retail quota is fully booked.
- Assess whether Ather or its bankers emphasize anchor investor quality, profitability path, market-share gains, or use-of-proceeds to address institutional concerns.
- Watch competing listed EV and two-wheeler stocks for sentiment signals ahead of listing.