Ather Energy Sets IPO Launch for April 28; Price Band Fixed at ₹304–₹321
Green Wheels, Smarter Rides: Ather Leads India’s Electric Revolution
Electric vehicle innovator Ather Energy, co-founded by Tarun Mehta and Swapnil Jain were in Ahmedabad today to announce the launch of their company’s IPO on April 28. The offering includes a Fresh Issue worth ₹2,626 crore and an Offer for Sale of 1.1 crore shares.
BILKULONLINE
Ahmedabad, April 25: Bengaluru-based electric vehicle manufacturer Ather Energy Limited is all set to hit the public markets with its initial public offering (IPO) opening on Monday, April 28, 2025, and closing on Wednesday, April 30, 2025. The company has fixed the price band for the IPO between ₹304 and ₹321 per equity share of face value ₹1 each.
The offering includes a Fresh Issue aggregating up to ₹2,626 crore and an Offer for Sale (OFS) of up to 11,051,746 equity shares by existing shareholders including Promoters Tarun Mehta and Swapnil Jain, and prominent investors such as Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd., and IIT Madras Incubators.
The IPO also reserves 100,000 equity shares for eligible employees, who will receive a ₹30 discount per share under the Employee Reservation Portion.
Management team of Ather Energy were in Ahmedabad on Thursday to announce the details of the forthcoming IPO before the media. 
As per regulatory requirements, 75% of the Net Offer will be allocated to Qualified Institutional Buyers (QIBs), of which up to 60% can be allocated to Anchor Investors (bidding on April 25, 2025). The remaining allocation will be divided between Non-Institutional Bidders (15%) and Retail Individual Investors (10%).
The company will follow the Book Building Process under SEBI ICDR regulations, with bids required in lots of 46 equity shares and in multiples thereafter. The IPO is being managed by Axis Capital, HSBC Securities, JM Financial, and Nomura, who are acting as Book Running Lead Managers (BRLMs).
The equity shares are proposed to be listed on BSE and NSE. Interested investors should note that the IPO is subject to market conditions and regulatory approvals, and are advised to review the Risk Factors in the Red Herring Prospectus (RHP) filed on April 22, 2025, before investing.
For further details, investors can refer to the official websites of SEBI, BSE, NSE, Ather Energy, and the BRLMs.
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