Resurfacing Ather Energy's April IPO Day 2 update: 28% subscription, retail tranche fully booked
Ather Energy's IPO was subscribed 28% on Day 2 of bidding back in late April 2025, with the retail investor portion reaching full subscription, according to Inc42.
What happened
Ather Energy’s IPO was subscribed 28% on Day 2, receiving bids for 0.24 times the shares offered. The retail investor portion was fully subscribed.
Key facts
- 28% overall subscription
- 0.24x shares on offer bid for
- 100% retail portion subscription
Why this matters
The retail tranche’s full subscription strengthens Ather’s strategic credibility as an electric-mobility platform, potentially improving its leverage with partners, suppliers, and future acquisition targets.
What to watch
- Final overall subscription multiple and the QIB subscription level
- Any extension, revision or change in issue-price messaging
- Grey-market premium direction before listing
- Anchor investor participation and allocation quality
- Monthly electric two-wheeler registrations, market-share data and Ather sales momentum
- Listing-day broader market conditions and performance of EV-related peers
- Track final-day QIB, NII and employee-category subscription separately from retail demand.
- Watch whether Ather or lead managers intensify investor outreach around growth, margins, charging infrastructure and use of proceeds.
- Expect peer comparisons with Ola Electric, TVS Motor, Bajaj Auto and other electric two-wheeler businesses to shape listing-day sentiment.
- Monitor whether strong retail participation translates into higher brand awareness and dealer/customer inquiries after the IPO.