Ather Energy IPO: Electric scooter manufacturer Ather Energy IPO received a cold response from investors on the first day of membership. Despite the rapid rise in the market, this public issue received only 16 percent of the subscription on the first day. The IPO is open for membership on 28 April and will remain open till 30 April.
According to the data available on the National Stock Exchange (NSE), this IPO of Rs 2,981.06 crore received bids for a total of 86,09,406 equity stocks by the end of April 28, ie 28 April. Thus 5,33,63,160 shares are kept for sale. On this basis, the total subscription rate was 16 percent on the first day.
Ather Energy IPO Membership Status
The most participation was seen in the employee reserved quota, with 1.78 times the booking. Retail investors made 63 percent bids in the category reserved for him, while non-institutional investors (NIIs) made 16 percent and qualified institutional buyers (QIB), out of 2,89,27,363 dialects reserved for him, only 5,060 dialects.
Gray market response
Ather Energy IPO is getting good response in the gray market. According to sources monitoring the developments in the unofficial market, the company’s non-listed shares were trading at Rs 322 in the gray market on Tuesday (April 29). It shows a premium of Rs 1 or 0.31% at the upper end of the price band of Rs 321.
Ather Energy IPO
The price limit for Ather Energy IPO has been fixed at Rs 304-321 per share. There are 46 shares in a lot. Investors can apply for a minimum of 46 shares or its multiples. Retail investors will require a minimum of Rs 14,766 to bid for a lot. While retail investors can apply for a maximum of 13 lots or 598 shares.
Should I join the IPO of Ather Energy or not?
Brokerage firm Bajaj Broking has advised to subscribe to the IPO of Ather Energy for a long period. Brokerage said that Ather Energy is an electric vehicle (EV) company which specializes in selling electric two -wheelers (E2W), batteries and other related products. The company is expanding its production capacity by setting up a new manufacturing plant in Maharashtra.
Brokerage said that despite the growth, the company is constantly running in losses and its accumulated deficit is increasing considerably. Its value-y (PE) ratio is negative due to the company’s financial performance. As of 31 December 2024, the company’s debt was more than ₹ 1121 crore, which is a matter of concern. Smart investors who have additional funds and long -term approaches can consider investing in Ather Energy IPO.
