Resurfacing an April 2025 move: Ather Energy IPO reached 28% subscription on Day 2
Ather Energy’s IPO had received 28% subscription by the second day of bidding on April 29, 2025, signalling early investor demand for the electric two-wheeler maker — a months-old milestone resurfacing now.
What happened
Ather Energy’s IPO was 28% subscribed 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 IPO demand provides an early public-market benchmark for Indian EV valuations and could influence financing, partnership and consolidation discussions across the two-wheeler ecosystem.
What to watch
- Final-day subscription split across QIB, non-institutional and retail categories.
- Grey-market premium and any change in issue-price sentiment before allotment.
- Anchor investor roster, allocation concentration and lock-in overhang.
- Listing-day price and volume versus issue price.
- Monthly electric scooter registrations, market-share movement and price discounting by competitors.
- Quarterly gross margin, EBITDA loss, cash burn and inventory trends after listing.
- Emphasize gross-margin improvement, cost reduction and path to profitability in investor communications.
- Use IPO proceeds to fund manufacturing capacity, R&D, charging infrastructure and retail expansion.
- Calibrate post-listing growth spending to preserve cash while defending share against Ola Electric, TVS, Bajaj and Hero MotoCorp.
- Prioritize premium models and software-connected services that improve contribution margins and customer retention.