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Ather Energy IPO Day 2 GMP Latest News Today (April 29) Ather Energy’s Initial Public Offering (IPO) opened for subscription on Monday, April 28, with a goal of raising around Rs 2,981 crore. The offering includes 8.18 crore fresh equity shares and an offer for sale (OFS) of 1.1 crore shares. On its opening day, the IPO was subscribed 16%. Before the launch, the electric two-wheeler manufacturer had already raised Rs 1,340 crore through anchor investors.

Arihant Capital pointed out Ather’s strong position in India’s rapidly expanding EV market and its early mover advantage. The firm noted that with new product launches like the Ather Rizta and the upcoming Factory 3.0, the company is quickly scaling its operations. In its report, Arihant Capital stated, “We recommend a ‘Subscribe for listing gain’ rating for this issue.”

The book-building issue includes 8.18 crore fresh shares along with 1.11 crore shares offered by promoters. The IPO allotment is likely to be finalised on May 2. According to the tentative timeline, Ather Energy’s shares are expected to debut on the D-Street (NSE and BSE) on May 6. Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are acting as the lead book-running managers, while Link Intime India is serving as the registrar for the issue.

Deven Choksey Research has noted that Ather’s IPO is priced at an EV/Sales valuation of 6x, which they believe "appears overvalued." They have assigned an "Avoid" rating to the IPO, suggesting that investors may find a more attractive entry point in the secondary market.

Hello and welcome to Moneycontrol. Today, in the top business news, we are taking a stock of Ather Energy IPO. The public issue was launched for subscription on Monday, April 28, aiming to raise nearly Rs 2,981 crore. The IPO comprises 8.18 crore new equity shares and an offer for sale (OFS) of 1.1 crore shares. On the first day of bidding, the subscription reached 16%. Ahead of the IPO opening, the electric two-wheeler company had secured Rs 1,340 crore from anchor investors.

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