Ather Energy IPO: First issue of FY26 to make stock market debut today; check GMP

Shares of Ather Energy are set to make their Dalal Street debut on Monday, May 05. This is the first mainboard issue of financial year 2025-26 and the company is set to deliver mild listing gains for the investors, if one goes by the current signals based on the grey market premium (GMP) for the issue.

Last heard, Ather Energy shares were commanding a grey market premium of Rs 10-12 apiece, suggesting a mild listing pop of 3-4 per cent for the investors. The premium in the unofficial market has seen a strong recovery post the closure of the issue on the back of strong recovery in the broader markets. The GMP stood around Rs 1-3, when the issue closed for bidding.

The IPO of Ather Energy was open for bidding between April 28 and April 30. It sold its shares in the fixed price band of Rs 304-321 per share with a lot size of 46 shares. The electric two-wheeler maker 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.

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) were the book running lead managers of the Ather Energy IPO, while Link Intime India was the registrar for the issue. Shares of Ather Energy shall be listed on both BSE and NSE.