Ather Energy IPO subscribed 28% by Day 2 — resurfacing an April 29 update
Ather Energy’s initial public offering had received 28% subscription by the second day of bidding, according to an April 29 update, now resurfacing months later.
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% subscribed
- Day 2
Why this matters
Ather’s restrained IPO traction may temper near-term EV-sector valuation benchmarks, creating opportunities for disciplined buyers to pursue partnerships or assets at more realistic prices.
What to watch
- QIB subscription crosses 1x before bidding closes.
- Overall subscription remains below 1x or retail participation stays muted.
- Grey-market premium turns negative or widens sharply before listing.
- IPO pricing is near the top of the announced band despite weak demand.
- First-week trading falls materially below issue price.
- Competitor comments or financing actions from Ola Electric, TVS, Bajaj or Hero shift EV valuation benchmarks.
- Track final-day subscription by QIB, NII and retail categories rather than aggregate demand alone.
- Watch for grey-market premium changes and any revisions in broker listing-gain expectations.
- Assess whether a weak debut delays or reprices planned Indian EV and mobility capital raises.
- Monitor post-listing use of proceeds, especially retail expansion, charging infrastructure and working-capital needs.