Resurfacing: Ather Energy IPO had reached 28% subscription on Day 2 back in April 2025

Ather Energy's IPO was subscribed 28% 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.

— FiledMon, 24 Aug, 2026, 14:16 IST·First seen Mon, 24 Aug, 2026, 14:15 IST·Source Inc42 · Quick Commerce

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% subscription
  • Day 2
  • April 29, 2025

Why this matters

Ather’s early IPO traction validates strategic interest in India’s EV two-wheeler market, potentially supporting partnership, acquisition, and competitive-benchmark discussions across the sector.

What to watch

  • Final subscription multiple and the share of QIB bidding on the last day.
  • Whether the IPO is fully subscribed without relying heavily on one investor class.
  • Grey-market premium direction and broader Indian equity-market volatility before listing.
  • Listing-day close versus issue price and first-week trading volumes.
  • Subsequent quarterly disclosures on unit sales, market share, gross margin, cash burn and dealer expansion.
  • Competitive pricing or incentive moves from Ola Electric, TVS, Bajaj and Hero MotoCorp.
  • Track final-day subscription by QIB, non-institutional and retail investor categories rather than the aggregate figure alone.
  • Monitor anchor-investor participation, issue-price positioning and grey-market premium ahead of listing.
  • Compare implied valuation with Ola Electric, listed auto OEMs and two-wheeler peers on revenue growth, gross margin and path to profitability.
  • Watch whether Ather uses IPO proceeds to accelerate retail expansion, charging infrastructure, R&D and manufacturing capacity.
  • Expect competing EV makers to reassess fundraising timing and pricing based on Ather's final subscription and listing performance.

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