Ather Electric IPO (preliminary public offering) opened for bidding on Monday, bringing an end to the lengthy hiatus of mainboard public listings.
But buyers did not now seem to be eager to invest, as in keeping with the subscription range for the first day of Ather electricity IPO.
As of the cease of april 28,
Ather's IPO saw a muted reaction, with a typical subscription of just 0.17 times. A number of the one-of-a-kind investor classes, retail buyers showed a little interest, subscribing to 69% of their allocated quota.
However, there has been no participation from qualified institutional customers (QIBs), and the non-institutional investor (NII) component changed into subscribing to the simplest 17%. handiest 89,10,706 shares have been bid for out of the five,11,22,370 provided to traders.
Should you make investments?
Ather electricity IPO is an e-book-built issue worth Rs 2,980.76 crore. It includes a fresh issue of 8.18 crore stocks aggregating to Rs 2,626.30 crore and a suggestion for sale (OFS) of 1.11 crore shares really worth Rs 354.76 crore.
The fee band for the IPO has been set between Rs 304 and Rs 321, according to percentage.
Retail traders want to apply for at least one lot, which consists of 46 shares.
The minimal investment required is Rs 13,984 for retail traders.
Bajaj broker studies stated that Ather's strength is within the method of expanding its manufacturing potential by means of putting in a new unit in Maharashtra.
"In spite of its boom initiatives, the employer has been constantly posting losses and consists of massive collected losses. Its overall financial performance has resulted in a terrible price-to-earnings (PE) ratio, and its borrowings stood at over Rs 1,121 crore as of december 31, 2024, which is a point of subject. However, the corporation's blessings from robust parentage, which stays its key electricity," stated Bajaj broker studies.
"Thinking about its cutting-edge financials, this appears to be a protracted-time-period funding tale, and consequently, the best properly knowledgeable buyers with a surplus price range and an extended-term angle might also recollect investing reasonably," Bajaj dealer research introduced.
However, Ventura Securities Limited gave a specific view.
"We endorse subscribing for list gains. Its premium awareness, Ather Grid, and R&D-driven innovation differentiate it from the competition. employer goes thru important capex with its Ather factory three.0 (can have 10 lakh unit capability by means of mid FY26). This comes no matter demanding situations consisting of subsidy cuts and low-capability utilization," stated Ventura Securities constrained.
Trendy GMP
The list of benefits for the IPO of Ather Power is no longer first-rate. However, it rose by using just a rupee on the second day of bidding.
As of april 29, 2025, the last suggested grey market top rate (GMP) for the Ather Energy IPO is Rs 1. With the fee band set at Rs 321, the estimated listing fee is expected to be around Rs 322 as well. This suggests a 0.31% expected benefit or loss on the list primarily based on trendy GMP.
Allotment for the Ather Energy IPO is expected to be finalized on Friday, May 2, 2025. The shares are probable to be indexed on BSE and NSE on Tuesday, May 6, 2025.
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