The preliminary public providing of electrical car pure play firm Ather Vitality Ltd. has been subscribed 35% on day three of bidding. It was subscribed 16% on its first day on Monday, and 28% on its second day.
The gray market premium of Ather Vitality IPO was Re 1 as of 10:54 a.m. on April 30, in response to InvestorGain. This means shares of the corporate will doubtless record at Rs 322 apiece, with a 0.31% achieve over the IPO worth.
The provide consists of each a problem of contemporary shares value Rs 2,626 crore, and a suggestion on the market value Rs 354.8 crore. The value band has been set within the vary of Rs 304 to Rs 321 per share. The market worth on the higher finish of the worth band is Rs 11,955.7 crore.
The corporate goals to utilise Rs 927.22 crore in direction of capital expenditure for its Maharashtra E2W manufacturing facility, alongside Rs 40.03 crore for reimbursement of borrowings, Rs 750 crore for funding in R&D and Rs 300 crore in expenditure in direction of advertising and marketing.
Ather Vitality: IPO Particulars
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Difficulty opens: April 28.
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Difficulty closes: April 30.
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Difficulty worth: Rs 304-321.
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Supply on the market: Rs 354.8 crore.
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Recent subject: Rs 2,626 crore.
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Whole subject dimension: Rs 2,980.7 crore.
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Lot dimension: Minimal 46 shares, after which in multiples thereof.
Enterprise
Ather Vitality is a pure play Indian electrical two-wheeler maker, and in addition supplies related product ecosystem, comprising software program, charging infrastructure and sensible equipment, all of that are conceptualised and designed by the corporate.
Aside from in-house battery packs, transportable chargers and motors, different key E2W parts, akin to motor controllers, transmissions, car management models, dashboards, DC-DC converters, harnesses, and chassis are designed in-house by the corporate and outsourced to suppliers for manufacturing.
The corporate offered 1.07 lakh and 1.09 lakh E2Ws within the 9 months ended Dec. 31, 2024 and monetary 2024, respectively.
Ather Vitality IPO: Subscription Standing Day Three
The IPO has been subscribed 0.35 instances, or 35% as of 11:34 a.m.
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Certified institutional patrons: 0.02 instances or 2%.
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Non-institutional buyers: 0.32 instances or 32%.
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Retail buyers: 1.36 instances.
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Portion reserved for workers: 3.95 instances.
Ather Vitality IPO GMP
The gray market premium of Ather Vitality IPO was Re 1 as of 10:54 a.m. on April 30, in response to InvestorGain. This means shares of the corporate will doubtless record at Rs 322 apiece, with a 0.31% achieve over the IPO worth.
It ought to be famous that GMP or gray market worth just isn’t an official worth quote for the inventory and is predicated on hypothesis.
Ather Vitality IPO: Key Dangers
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Aside from the batteries manufactured in-house, the corporate depends on exterior suppliers for all different EV parts utilized in assembling its electrical two-wheelers. Any lack of key suppliers or disruptions in element provide may affect operations.
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The corporate has incurred losses since its inception. In fiscal 2024, it recorded stagnant income development, with a loss earlier than tax of Rs 1,059.7 crore and Rs 577.9 crore within the 9 months ended Dec. 31, 2024. There isn’t a assurance of value effectivity or future profitability.
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The corporate’s development relies on the demand for and adoption of electrical two-wheelers. Slower-than-expected market growth may adversely have an effect on its enterprise and monetary efficiency.
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Gross sales are closely concentrated in South India, exposing the corporate to heightened dangers from pure disasters, regional instability, and regulatory adjustments in that area.
Monetary Efficiency And Business Friends
The corporate reported a 28.30% rise in income at Rs 1,578.9 crore within the first 9 months of the monetary yr 2025, from Rs 1,230.4 crore in the identical interval of the earlier fiscal. Web revenue slipped 25.60% to Rs 577.9 crore. The corporate reported an Ebitda lack of Rs 408.5 crore in the identical interval.
As of Feb. 28, 2025, the corporate’s debt pile stood at Rs 533.6 crore.
The EV participant’s listed friends embody Hero MotoCorp Ltd., Bajaj Auto Ltd., Ola Electrical Mobility Ltd., TVS Motor Co. and Eicher Motors Ltd. Right here is how its efficiency stacks up towards them:
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