Ather Energy Limited, founded in 2013, is a leading Indian electric two-wheeler manufacturer specializing in designing and producing electric scooters, battery packs, and charging infrastructure. The company follows a vertically integrated business model with in-house R&D, manufacturing, and software development. It sold 107,983 units in the first nine months of FY2025 and 109,577 units in FY2024. Ather has expanded its presence with 265 experience centers and 233 service centers across India, along with international operations in Nepal and Sri Lanka.
As of February 2025, Ather held 303 trademarks, 201 registered designs, and 45 patents, with several more pending approval. The company’s strategy focuses on vertical integration, software-defined products, premium positioning, and capital efficiency. It employs 2,454 people, including both permanent and contractual staff.
The upcoming IPO consists of a fresh issue of 8.18 crore shares worth ₹2,626.30 crore and an offer for sale of 1.11 crore shares worth ₹354.76 crore, totaling ₹2,981.06 crore. The price band has been set at ₹304 to ₹321 per share, with bidding open from April 28 to 30, 2025. The allotment will be finalized on May 2, 2025, and the shares are expected to list on BSE and NSE on May 6, 2025. Retail investors can apply for a minimum of 46 shares (₹13,984-₹14,766), while institutional investors have higher minimum investment requirements. The IPO also includes an employee reservation of up to 1 lakh shares offered at a ₹30 discount. The company’s strong intellectual property portfolio, expanding distribution network, and focus on premium electric vehicles position it well in India’s growing EV market.
Ather Energy IPO Details
| IPO Date | April 28, 2025 to April 30, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Issue Price Band | ₹304 to ₹321 per share |
| Lot Size | 46 Shares |
| Issue Size | ₹2,980.73 Crores |
| Fresh Issue | Approx ₹2,626 Crores |
| Offer for Sale | 1,10,51,746 shares of ₹1 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 29,06,43,469 shares |
| Share Holding Post Issue | 37,24,59,668 shares |
Ather Energy IPO Dates
The initial public offering (IPO) of Ather Energy will be available for subscription from April 28, 2025, with the bidding window remaining open until April 30, 2025.
| IPO Open Date | Mon, Apr 28, 2025 |
| IPO Close Date | Wed, Apr 30, 2025 |
| Tentative Allotment | Fri, May 2, 2025 |
| Refunds | Mon, May 5, 2025 |
| Credit of Shares to Demat | Mon, May 5, 2025 |
| IPO Listing Date | Tue, May 6, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on April 30, 2025 |
Ather Energy IPO Market Lot
Ather Energy’s IPO has a minimum lot size of 46 shares (₹14,766). Retail investors can bid for up to 13 lots (598 shares), totaling ₹1,91,958.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 46 | ₹14,766 |
| Retail Maximum | 13 | 598 | ₹1,91,958 |
| S-HNI Minimum | 14 | 644 | ₹2,06,724 |
| B-HNI Minimum | 68 | 3,128 | ₹10,04,088 |
