IPO Details
Bidding Dates
28 Apr 25 - 30 Apr 25
Lot Size
46
Price Range ₹
304 - 321
Exchange Status
BSE,NSE
Total Equity
₹ 3127.93Cr
IPO Doc
IPO Timeline
Listing
--
Offer start
28 Apr 2025
Offer end
30 Apr 2025
Allotment
02 May 2025
Refund initiation
05 May 2025
Demat transfer
05 May 2025
Listing
--
Offer start
28 Apr 2025
Offer end
30 Apr 2025
Allotment
02 May 2025
Refund initiation
05 May 2025
Demat transfer
05 May 2025
About Company
Ather Energy, founded in 2013, is an electric vehicle (EV) company dedicated to designing and developing electric two-wheelers (E2W), battery packs, and charging infrastructure entirely in India. The company's current lineup features two models, the Ather 450 and the Ather Rizta, available in seven variants. In the financial year 2024, Ather held an 11.5 percent market share, selling 1,09,577 electric two-wheelers and ranking third in the industry, following Ola Electric and TVS Motor Company. As of March 31, 2024, Ather operates 208 experience centers and 191 service centers across India, along with three experience centers and one service center in Nepal. To qualify for the shareholder quota, Hero MotoCorp shares must be held as of the date of the Red Herring Prospectus (RHP) filing.
Year Founded
21-10-2013
Promotor Details
Neelam Dhawan
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 52.67 | 0 |
| Share Capital | 158728716 | 0 |
Offer to Public
9,74,43,193.00 Cr
Project Details
- Repayment/ pre-payment, in full or part, of certain borrowings availed by our Company - 400cr
- Investment in research and development - 7500cr
- Capital expenditure to be incurred by our Company for establishment of an E2W factory in Maharashtra - 9272cr
- Expenditure towards marketing initiatives - 3000cr
Objectives
- Capital expenditure to be incurred by our Company for establishment of an E2W factory in Maharashtra, India
- Repayment/ pre-payment, in full or part, of certain borrowings availed by our Company
- Investment in research and development
- Expenditure towards marketing initiatives
- andGeneral corporate purposes.
Highlights
- Strong in-house research and development capabilities have enabled Ather to introduce industry-first features like a touchscreen dashboard, trip planner, and internet connectivity.
- A focus on high-quality products allows the company to position itself as a premium brand in the electric two-wheeler market.
- Ather has a strong presence in the performance scooter segment and has expanded into convenience scooters while also developing a motorcycle platform.
- The company has significantly increased its manufacturing capacity from 21,300 electric two-wheelers per year in 2021 to 2,66,850 units per year in 2024, supporting rapid growth.
- Continuous innovation and technology integration enhance the overall user experience, making Ather a preferred choice for EV consumers.
Challenges
- The company has experienced negative cash flows from operations since its inception, which may impact financial stability and growth.
- Ather offers only two products, with a heavy reliance on the Ather 450X. Any decline in sales of this model could significantly affect revenue.
- The company previously benefited from the FAME subsidy, but it has now been replaced by the EMPS subsidy. There is no assurance that this new scheme will be extended or replaced in the future.
- Ather is highly dependent on its key management team, and any major changes in leadership could disrupt operations and strategic direction.
- Intense competition in the electric two-wheeler market from established players and new entrants may impact Ather’s market share and profitability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 7,413.00 | 3.86 | -2,333.00 | -2,333.00 | -2554.95679 |
| 2024 | 19,135.00 | 8.00 | -16,14,80,528.00 | -16,14,80,528.00 | -176.0175 |
| 2022 | 8,186.00 | 7.00 | -4,47,51,124.00 | -4,47,51,124.00 | -48.7798 |
| 2020 | 5,184.00 | 2.77 | -4,47,51,124.00 | -4,47,51,124.00 | -48.7798 |
| 2023 | 19,768.00 | 6.00 | -36,65,40,900.00 | -36,65,40,900.00 | -399.5381 |
