Resurfacing: Ather Energy IPO had reached 28% subscription on Day 2 back in April
Resurfacing a months-old milestone — Ather Energy's IPO had been subscribed 28% by the second day of bidding on April 29, 2025, offering an early read on investor appetite for the electric two-wheeler retailer and manufacturer.
What happened
Ather Energy’s IPO was subscribed 28% on the second day of bidding, according to an April 29, 2025 update.
Key facts
- 28% subscription
- Day 2 of bidding
- April 29, 2025
Why this matters
Ather Energy’s IPO progress offers a live valuation and investor-sentiment benchmark for EV two-wheeler peers, potential partners, and strategic acquisition targets.
What to watch
- Final subscription multiple, especially QIB participation and last-hour bidding concentration.
- Price-band revisions, anchor allocation quality, and proportion of fresh issue versus offer-for-sale demand.
- Grey-market premium persistence through allotment and listing day.
- Listing-day performance versus issue price and first-week trading liquidity.
- Ather's subsequent quarterly delivery growth, gross-margin trajectory, dealer additions, and cash-burn guidance.
- Track Day 3 and final subscription by QIB, NII, retail, and employee categories rather than the aggregate figure.
- Watch grey-market premium direction and any changes in investor commentary on valuation, losses, and use of proceeds.
- Monitor whether competing two-wheeler OEMs respond with dealer incentives, financing offers, or accelerated EV launches around the listing.
- Assess whether a weak IPO outcome delays fundraising, expansion, or public-listing plans for EV component suppliers and smaller electric two-wheeler brands.