Ather Energy, a pioneer in India’s electric two-wheeler segment, is set to make its stock market debut. With its IPO opening on April 28, 2025, investors are keenly watching this move as the company seeks to raise approximately ₹2,980.76 crore.
This offering marks a significant milestone in Ather’s journey towards accelerating the adoption of electric mobility in India.
About the Company
Founded in 2013 by IIT Madras alumni Tarun Mehta and Swapnil Jain, Ather Energy specialises in designing and manufacturing electric scooters. The company introduced its first product, the Ather 450, in 2018, followed by models like the 450x and the family-oriented Rizta.
Ather has also developed its proprietary fast-charging network, Ather Grid, to enhance India’s EV ecosystem. As of March 2024, the company boasts a network of 1,973 chargers, providing a competitive edge in terms of infrastructure reliability.
Despite facing stiff competition from players like Ola Electric and TVS Motor, Ather has carved a niche for itself with its focus on performance and innovation.
An Industry Overview
India’s electric two-wheeler market is rapidly growing, driven by government incentives, rising fuel prices, and increasing environmental awareness. In 2024, the market size reached approximately 1.14 million units, with projections indicating continued expansion. Key players include Ola Electric, TVS Motor, Bajaj Auto, and Ather Energy.
While Ather’s sales volumes trail behind some competitors, its emphasis on premium products and robust charging infrastructure positions it uniquely in the market. The company’s revenue grew by 28% in the nine months leading up to December 2024, reflecting its strong market presence.
IPO Complete Details
| Detail | Information |
| Open Date | April 28, 2025 |
| Close Date | April 30, 2025 |
| Total Issue Size | ₹2,980.76 crore |
| Number of Shares | 9,28,58,599 equity shares |
| Fresh Issue | 8,18,06,853 shares (₹2,626.00 crore) |
| Offer for Sale | 1,10,51,746 shares (₹354.76 crore) |
| Price Band | ₹304 to ₹321 per share |
| Lot Size | 46 shares |
| Minimum Investment | ₹13,984 |
| Basis of Allotment | May 2, 2025 |
| Initiation of Refunds | May 5, 2025 |
| Credit of Shares to Demat | May 5, 2025 |
| Listing Date | May 6, 2025 |
| Listing Exchange(s) | BSE and NSE |
What Does This Mean For You?
The Ather Energy IPO offers investors an opportunity to participate in India’s burgeoning electric vehicle sector. With the government’s push towards sustainable transportation and increasing consumer adoption of EVs, companies like Ather are poised for growth.
However, potential investors should consider factors such as market competition, regulatory changes, and the company’s financial performance.
Ather’s focus on innovation and infrastructure development could be advantageous, but it’s essential to assess the company’s long-term strategy and market dynamics before making investment decisions.
Conclusion
Ather Energy’s upcoming IPO marks a significant step in its mission to revolutionize urban mobility in India. As the company transitions into the public domain, it aims to leverage the raised capital to enhance its product offerings, expand infrastructure, and solidify its market position.
Investors and industry observers will be watching closely to see how Ather navigates the competitive landscape and capitalizes on the growing demand for electric vehicles.
