Resurfacing April 2025 move: Ather Energy IPO reached 28% subscription by end of Day 2
Ather Energy's public issue was subscribed 28% by the close of the second bidding day on April 29, 2025, signalling measured investor participation during the EV maker's IPO window — a months-old milestone now resurfacing.
What happened
Ather Energy’s IPO was subscribed 28% by the end of its second day of bidding, according to an April 29, 2025 update.
Key facts
- 28% subscribed
- Day 2
- April 29, 2025
Why this matters
The muted-but-positive IPO participation provides a real-time benchmark for EV capital-market sentiment, informing partnership, acquisition and competitive-financing assessments across the sector.
What to watch
- Day-3 total subscription and QIB book coverage
- Retail subscription acceleration or continued undersubscription
- Grey-market premium direction before allotment
- Anchor investor participation and lock-up-related disclosures
- Issue price versus listed EV and two-wheeler peer valuation multiples
- Post-listing quarterly delivery growth, gross-margin trajectory and cash-burn disclosures
- Monitor final-day QIB, HNI and retail subscription separately rather than headline subscription alone.
- Track grey-market premium and any revisions in broker valuation commentary for listing-price expectations.
- Assess whether IPO proceeds provide enough runway for manufacturing expansion, dealership growth, R&D and working-capital needs.
- Watch competitor responses from Ola Electric, TVS, Bajaj and Hero MotoCorp, especially pricing, financing and model-launch activity.