{"id":55966,"date":"2025-05-06T13:38:00","date_gmt":"2025-05-06T08:08:00","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=55966"},"modified":"2025-07-24T15:24:28","modified_gmt":"2025-07-24T09:54:28","slug":"ather-energy-lists-today-gmp-subscription-inside","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/ather-energy-lists-today-gmp-subscription-inside\/","title":{"rendered":"Ather Energy IPO Goes Live: Listing Price, GMP, and Subscription Details Inside"},"content":{"rendered":"
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Ather Energy, the electric vehicle startup<\/a> based in Bengaluru, is making headlines today as it debuts on the stock exchanges, becoming the first mainboard IPO to list in the financial year 2025-26. The much-anticipated public issue, which raised \u20b92,626 crore, has sparked interest because of the company\u2019s positioning in the EV space and the evolving investor sentiment around IPOs in 2025.<\/p>\n\n\n\n

Let\u2019s walk through everything you need to know about Ather Energy\u2019s IPO listing\u2014step by step \u2014including the price action, grey market premium (GMP) trends, subscription status, fund utilization, and company profile.<\/p>\n\n\n\n

Listing Day Performance<\/strong><\/h2>\n\n\n\n

On Tuesday, 6 May, Ather Energy shares were listed at \u20b9328 on the NSE<\/a> and \u20b9326.05 on the BSE\u2014modestly above the IPO issue price of \u20b9321. This translates to a listing gain of around 2.18% and 1.57%, respectively. While this performance aligns with the grey market\u2019s signals of a mild pop, it also reflects the cautious optimism prevalent among investors today.<\/p>\n\n\n\n

It\u2019s worth noting that the stock did see some intraday volatility post-listing, dipping below its issue price at times. This underscores the delicate balance between investor expectations and real-time market sentiment<\/a> on debut day. Source:<\/strong> Mint<\/strong><\/a><\/p>\n\n\n\n

IPO Details<\/strong><\/h2>\n\n\n\n
Offer Price<\/td>\u20b9304 to \u20b9321 per share<\/td><\/tr>
Face Value<\/td>\u20b91 per share<\/td><\/tr>
Opening Date<\/td>28 April 2025<\/td><\/tr>
Closing Date<\/td>30 April 2025<\/td><\/tr>
Total Issue Size (in Shares)<\/td>9,28.58, 599 <\/td><\/tr>
Total Issue Size (in \u20b9)<\/td>\u20b9 2980.76 Cr<\/td><\/tr>
Issue Type <\/td>Book Built Issue IPO<\/td><\/tr>
Lot Size<\/td>46 Shares<\/td><\/tr>
Listing at<\/td>BSE<\/a>, NSE<\/td><\/tr><\/tbody><\/table>
Source: Chittorgarh.com<\/a><\/figcaption><\/figure>\n\n\n\n

Grey Market Premium (GMP) Trends<\/strong><\/h3>\n\n\n\n

Ather Energy\u2019s grey market premium has had an interesting trajectory. Initially, the company\u2019s unlisted shares commanded a premium of \u20b917. However, as the bidding window closed and market sentiment turned cautious, the GMP dropped significantly.<\/p>\n\n\n\n

By last week, the GMP had fallen to \u20b91\u2014a sharp decline from the earlier highs. On 5 May, just a day ahead of listing, the premium recovered slightly to \u20b97 per share, as per data from investorgain.com. That translates to a potential listing gain of just around 2.18% over the upper issue price of \u20b9321.<\/p>\n\n\n\n

This steady decline and modest recovery reflect the market\u2019s muted appetite for early-stage gains in contrast to the more euphoric reactions we\u2019ve seen during previous new-age tech IPOs. It signals a shift toward more measured evaluations of value and growth prospects. Source: <\/strong>Times Now<\/strong><\/a><\/p>\n\n\n\n

IPO Subscription Details: Who Subscribed and How Much<\/strong><\/h2>\n\n\n\n

The \u20b92,626 crore issue was open for bidding from April 28 to April 30. While expectations were high, the overall response was lukewarm compared to recent IPOs in similar sectors.<\/p>\n\n\n\n

Here\u2019s a quick snapshot of how different investor categories responded:<\/p>\n\n\n\n

Investor Category<\/strong><\/td>Subscription Status<\/strong><\/td>Additional Details<\/strong><\/td><\/tr>
Retail Investors<\/td>1.78 times<\/td>Allocation: 10%<\/td><\/tr>
Qualified Institutional Buyers (QIBs)<\/td>1.70 times<\/td>Allocation: 75%<\/td><\/tr>
Non-Institutional Investors (NIIs)<\/td>0.66 times<\/td>Allocation: 15%<\/td><\/tr>
Employees<\/td>5.43 times<\/td>\u20b930 per share discount<\/td><\/tr>
Overall Subscription<\/td>1.43 times<\/td>Reflects moderate overall demand<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The subscription stood at 1.43 times, indicating decent but not overwhelming demand. The employee quota was the most subscribed segment, suggesting internal confidence in the company\u2019s future. In terms of allocation, 75% of the offer was reserved for QIBs, 15% for NIIs, and 10% for retail investors. Source: <\/strong>The Economic Times<\/strong><\/a><\/p>\n\n\n\n

IPO Structure and Allotment Status<\/strong><\/h2>\n\n\n\n

The IPO combined a fresh issue and an offer-for-sale (OFS). Existing shareholders who offloaded part of their stakes include National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd., and entities backed by IIT Madras. Even the company\u2019s co-founders\u2014Tarun Mehta and Swapnil Jain\u2014partially reduced their holdings through the OFS component.<\/p>\n\n\n\n

Allotment for the IPO was finalized on Friday, 3 May. Shares were credited to successful investors\u2019 demat accounts, and refunds for unallocated shares were processed on Monday, 5 May.<\/p>\n\n\n\n

Use of Proceeds: Where the \u20b92,626 Crore Will Go<\/strong><\/h2>\n\n\n\n

Ather Energy has laid out a detailed plan for utilizing the IPO proceeds, aiming to expand capacity and drive innovation:<\/p>\n\n\n\n