Resurfacing Ather Energy's April IPO: 28% subscription by end of Day 2
Revisiting news from April 29, 2025: Ather Energy's public issue was subscribed 28% by the close of the second bidding day, signalling measured early investor participation in the electric two-wheeler maker's market debut.
What happened
Ather Energy’s IPO was subscribed 28% by the end of the second day of bidding, according to an April 29, 2025 update.
Key facts
- 28% subscribed
- Day 2
- April 29, 2025
Why this matters
The IPO’s early demand will serve as a near-term valuation and capital-market benchmark for EV mobility partnerships, acquisitions, and fundraising plans.
What to watch
- Final subscription multiple and category-wise demand at issue close.
- Extent of QIB participation relative to anchor investor allocation.
- Grey-market premium direction between close and listing.
- Listing-day opening and closing price versus issue price.
- Post-listing commentary on Ather's losses, gross margins, dealer expansion, battery investments, and competitive pressure from Ola Electric, TVS, Bajaj, and Hero.
- Track final-day subscription by QIB, non-institutional, and retail categories rather than the aggregate headline number.
- Monitor any changes in grey-market premium and broker commentary for indications of expected listing performance.
- Assess whether the issuer or lead managers emphasize profitability trajectory, market-share gains, and use of proceeds to address valuation concerns.
- Watch peer EV companies and suppliers for read-through effects on private-market valuations and planned capital raises.