Ather Energy IPO allotment status: Check application, latest GMP & listing date

Ather Energy is scheduled to finalize the basis of allotment of its shares on Friday, May 02. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by weekend or latest by Monday, May 05. The electric two-wheeler manufacturer's IPO had received a muted response from the investors.

The IPO of Ather Energy was open for bidding between April 28 and April 30. It had offered its shares in the price band of Rs 304-321 per share with a lot size of 46 shares. The company raised a total of Rs 2,980.76 crore from its IPO, which included a fresh share sale of Rs 2,626 crore and an offer-for-sale (OFS) of up to 1,10,51,746 equity shares.

The issue was overall subscribed only 1.43 times. The portion for qualified-institutional bidders (QIBs) was subscribed about 1.70 times. The portion for non-institutional investors (NIIs) was booked just 66 per cent, while the allocation for retail investors was booked 1.78 times during the three-day bidding. Allocation for employees was booked 5.43 times.

The grey market premium (GMP) of Ather Energy has seen a sharp correction amid the rising stock market volatility and muted bidding for the issue. Last heard, the company was commanding a premium of merely Rs 1-2 per share in the unofficial market, suggesting a flat listing for the investors. The GMP stood around Rs 15 before the issue kicked off.

Incorporated in 2013, Bengaluru-based Ather Energy is a pure-play electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. It operates as a vertically integrated EV manufacturer with a focus on product and technology development.

JM Financial, Axis Capital, HSBC Securities & Capital Markets, Nomura Financial Advisory and Securities (India) are the book running lead managers of the Ather Energy IPO, while Link Intime India is the registrar for the issue. Shares of Ather Energy shall be listed on both BSE and NSE with May 6 as the tentative date of listing, with allotment likely to be out by Friday, May 02.

Investors, who had bid for the issue of Ather Energy, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Ather Energy Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.