Ather Energy IPO gets 28% subscription on Day 2; retail investors portion fully subscribed

New Delhi: The initial public offer of electric two-wheeler maker Ather Energy got subscribed 28 per cent on the second day of bidding on Tuesday.

The initial share sale received bids for 1,50,79,352 shares against 5,33,63,160 shares on offer, according to data available with the NSE.

Retail Individual Investors (RIIs) part got fully subscribed by 1.11 times while the quota for non-institutional investors received 27 per cent subscription.

Ather Energy Ltd on Friday said it has mobilised Rs 1,340 crore from anchor investors.

The Rs 2,981-crore public issue, with a price band of Rs 304-321 apiece, will conclude on April 30.

This is the first mainboard public issue of the current financial year 2025-26.

The initial public offer (IPO) is a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders.

At the upper end of the price band, the IPO size is pegged at Rs 2,981 crore, placing the company's overall valuation at Rs 11,956 crore.

This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year.

Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), and HSBC Securities & Capital Markets are the book-running lead managers to the offer.