Ather Energy IPO: A Comprehensive Overview
Ather Energy, a prominent player in the electric vehicle sector, recently made headlines with its initial public offering (IPO) that concluded on April 30. The IPO was met with considerable interest, ultimately being subscribed 1.43 times on the final day of bidding. This article delves into the details of the IPO, subscription statistics, and the next steps for investors.
Subscription Details
The IPO received bids for a staggering 7,65,44,046 shares against the 5,33,63,160 shares on offer, as reported by the National Stock Exchange (NSE). This strong demand reflects the growing interest in sustainable transportation solutions and Ather Energy’s position in the market.
Non-Institutional Investors (NIIs)
In the non-institutional investors’ (NIIs) category, the response was somewhat muted, with bids for 96,27,202 shares compared to 1,46,01,478 shares available. This resulted in a subscription rate of only 0.66%. While this segment did not see overwhelming participation, it is important to note that the overall interest in the IPO remained robust.
Retail Investors
Retail investors showed a more enthusiastic response, with the retail portion being subscribed 1.78 times. They submitted bids for 1,73,13,710 shares against the 97,34,319 shares reserved for them. This indicates a strong belief in Ather Energy’s potential among individual investors, who are increasingly looking to invest in companies focused on sustainability and innovation.
Qualified Institutional Buyers (QIBs)
The qualified institutional buyers’ (QIBs) segment was particularly strong, being subscribed 1.70 times. This category secured bids for 4,90,60,472 shares against 2,89,27,363 shares on offer. The significant interest from institutional investors underscores confidence in Ather Energy’s business model and future growth prospects.
IPO Structure and Financials
The IPO was valued at ₹2,981.06 crore, with a price band set between ₹304 and ₹321 per share. The offering comprised a fresh issue of shares worth ₹2,626 crore, along with an offer-for-sale amounting to ₹354.76 crore by promoters and other shareholders. This financial structure is designed to bolster Ather Energy’s capital base while providing existing shareholders an opportunity to monetize their investments.
Allotment Status and Next Steps
Investors who participated in Ather Energy’s IPO are now eagerly awaiting the allotment status, which is scheduled to be finalized on May 2. The bid finalization details will be accessible on the websites of the NSE, BSE, and the registrar, MUFG Intime India.
How to Check Allotment Status
On NSE
- Visit the NSE website.
- Navigate to the IPO allotment section.
- Enter your application details to check the status.
On BSE
- Go to the BSE IPO allotment status portal: BSE IPO Allotment Status.
- Keep the issue type as ‘Equity’.
- Select ‘Ather Energy Limited’ from the ‘Issue Name’ list.
- Enter your PAN details or application number.
- Press the ‘search’ button.
On MUFG Intime India
Investors can also check their allotment status through MUFG Intime India, the registrar for the IPO.
About Ather Energy
Founded in 2013, Ather Energy specializes in designing and manufacturing electric two-wheelers, battery packs, and software solutions. The company has positioned itself as a leader in the electric vehicle market, focusing on innovation and sustainability. As the demand for electric vehicles continues to rise, Ather Energy is poised for significant growth.
Conclusion
The Ather Energy IPO marks a significant milestone for the company and the electric vehicle sector in India. With strong subscription numbers across various investor categories, it reflects a growing confidence in sustainable transportation solutions. As investors await the allotment status, the future looks promising for Ather Energy and its stakeholders. For more information on IPOs, their listings, schedules, and upcoming offerings, visit our page.