Resurfacing an April 2025 Move: Ather Energy IPO Had Reached 28% Subscription on Day 2
Ather Energy's IPO had attracted 28% subscription by the second day of bidding on April 29, 2025, signalling a measured early response to the electric-scooter maker's public-market debut — a milestone from months ago now resurfacing.
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
- April 29, 2025
Why this matters
Ather’s muted early IPO traction provides a useful valuation and investor-sentiment benchmark for EV two-wheeler partnerships, acquisitions and capital-raising discussions.
What to watch
- Final subscription multiple and investor-category breakdown
- Any extension, price-band revision, or anchor-book disclosure
- Grey-market premium direction before allotment
- Listing-day premium or discount versus issue price
- Monthly Ather registrations, market-share movement, and dealer-network additions after listing
- EV two-wheeler policy, subsidy, battery-cost, and financing-rate developments
- Monitor final-day category-wise subscription, especially QIB participation and retail demand.
- Assess whether the issue closes at or above full subscription without changes to the price band or anchor allocation.
- Track grey-market premium and early analyst commentary for indications of listing expectations.
- Watch management use-of-proceeds messaging around new models, retail experience centers, charging network expansion, and capacity.
- Compare the IPO's implied valuation and subscription trajectory with Ola Electric and listed two-wheeler peers.