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

Ather Energy’s IPO was subscribed 28% by the end of its second day of bidding on April 29, 2025, offering an early read on investor demand for the electric two-wheeler maker — a months-old milestone resurfacing now.

— Filed Wed, 19 Aug, 2026, 12:46 IST · First seen Wed, 19 Aug, 2026, 12:46 IST · Source Inc42 · Quick Commerce

What happened

Ather Energy’s IPO was subscribed 28% by the end of its second day, according to an April 29, 2025 update.

Key facts

  • 28%
  • Day 2
  • April 29, 2025

Why this matters

The measured IPO response provides a fresh market benchmark for electric two-wheeler funding, potentially shaping private valuations, partnership terms, and consolidation opportunities.

What to watch

  • Final subscription multiple and QIB versus retail allocation mix.
  • Grey-market premium direction before allotment and listing.
  • Listing-day premium or discount relative to issue price.
  • Quarterly electric two-wheeler registration growth and Ather market-share movement.
  • Competitive pricing, incentives or new launches from Ola Electric, TVS, Bajaj and Hero MotoCorp.
  • Changes in battery-cell costs, subsidy policy or EV financing availability.
  • Track final-day category-wise subscription, especially QIB demand and anchor-investor participation.
  • Compare the final issue price and implied valuation with Ola Electric, Bajaj Auto, TVS Motor and Hero MotoCorp EV exposure.
  • Monitor grey-market premium trends and post-listing turnover for evidence of institutional conviction.
  • Watch for management guidance on factory capacity, dealer-network expansion, battery costs and path to profitability after listing.

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