Ather Energy IPO Share Price, Date, GMP, Allotment Details
In 2013, Ather Energy was founded. India-based EV firm designs and develops electric two-wheelers (E2W), battery packs, and charging infrastructure. Ather offers seven variations of the Ather 450 and Rizta.
What is Ather Energy LIMITED?
Contents
- 1 What is Ather Energy LIMITED?
- 2 Ather Energy IPO Details, Anchor Investors Details
- 3 Ather Energy IPO Promoter Holding
- 4 Promoter Holdings
- 5 Ather Energy IPO Date
- 6 About Ather Energy Limited
- 7 Ather Energy Unlisted Share Price
- 8 Company Financials
- 9 Key Performance Indicator, Objects of the Issue (Ather Energy IPO Objectives)
- 10 Ather Energy IPO GMP
- 11 Conclusion
- 12 FAQs
Early Indian electric scooter manufacturer Ather Energy designed and built electric scooters. The firm, founded in 2013 by Tarun Mehta and Swapnil Jain, has quickly become a leader in India’s EV sector. Innovation, performance, and sustainability have put Ather Energy at the forefront of India’s electric transportation revolution.
The firm focuses on high-performance electric scooters and charging infrastructure. Ather Energy covers all aspects of product development, from design and engineering to production and after-sales support.
Fundamental Table
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
| Total Revenue (INR Crore) | 86.3 | 413.8 | 1,806.1 | 1,753.8 |
| Total Expenses (INR Crore) | 291.5 | 717.9 | 2,611 | 2,538 |
| Profit Before Tax (INR Crore) | -233.2 | -344.1 | -864.5 | -784.3 |
| Net Worth (INR Crore) | 2,249 | 6,137 | 5,459 | N/A |
Key Metric Table
| Key Metric | Value |
| Market Share | ~11.5% (FY 2024) |
| Manufacturing Capacity | 266,850 E2Ws/year (2024) |
| Number of Experience Centres | 208 in India |
| Number of Service Centres | 191 in India |
| Total Sales (E2Ws FY 2024) | 109,577 |
Peers and Comparison Table
| Company | Market Share (%) | Revenue (FY 2023) | Profit/Loss (FY 2023) |
| Ather Energy | ~11.5 | ₹1,806.1 crore | -₹864.5 crore |
| Ola Electric | ~20-25 | N/A | N/A |
| TVS Motor Company | ~15-20 | N/A | N/A |
| Bajaj Auto | ~10-15 | N/A | N/A |
Ather Energy IPO Details, Anchor Investors Details
Ather Energy plans to raise ₹3,100 crore via their Initial Public Offering (IPO). New equity shares are issued and existing investors and promoters offer 2.2 crore shares in the IPO.
| IPO Detail | Information |
| IPO Size | Fresh issues aggregating up to ₹31,000 million |
| Offer for Sale | Up to 22,000,766 equity shares |
| Equity Share Face Value | ₹1 per share |
| IPO Type | 100% Book Built |
| Promoters | Tarun Mehta, Swapnil Jain, Hero MotoCorp |
Anchor Investment Details:
- Tarun Sanjay Mehta and Swapnil Jain: The co-founders of Ather Energy, who will each offer 1 million equity shares
- Caladium Investment Pte Ltd: An extensive corporate stakeholder offering 10.52 million stock shares
- National Investment and Infrastructure Fund II: A big stakeholder offering 4.61 million stock shares
- Internet Fund III Pte. Ltd. Corporate shareholder offering up to 4 million stock shares
- 3State Ventures Pte. Ltd. Corporate shareholder offering up to 480,000 stock shares
- IITM Incubation Cell: A corporate shareholder offering 310,495 stock shares
- IITMS Rural Technology and Business Incubator: A corporate shareholder offering 41,910 stock shares
- Amit Bhatia: Individual shareholder offering 18,531 equity shares
Ather Energy IPO Promoter Holding
Ather Energy, a major EV player in India, plans to raise ₹4,500 crore via an IPO. The IPO involves selling new shares worth ₹3,100 crore and raising ₹1,400 crore from current owners, including co-founders and investors.
Promoter Holdings
Key Stakeholders:
- Hero MotoCorp: Ather Energy’s major stakeholder and promoter is Hero MotoCorp, which holds approximately 37% of the company. Note that Hero MotoCorp will not sell shares during the IPO.
- Founders: Tarun Mehta and Swapnil Jain own 7% of the firm and want to sell one million shares in the IPO.
- Other investors: Over 15% of stakeholders are GIC (Singapore’s sovereign wealth fund), and over 6% are Tiger Global.
| Stakeholder | Percentage Holding |
| Hero MotoCorp | 37% |
| Tarun Mehta | ~7% |
| Swapnil Jain | ~7% |
| GIC | >15% |
| Tiger Global | >6% |
Ather Energy IPO Date
From October to November 2024, Ather Energy’s IPO is planned to open for subscription. The following timeframe is based on typical IPO processes:
| IPO Activity | Tentative Date |
| IPO Opening Date | October-November 2024 |
| IPO Closing Date | October-November 2024 |
| Basis of Allotment | To be announced |
| Initiation of Refunds | To be announced |
| The credit of Shares to Demat | To be announced |
| IPO Listing Date | To be announced |
About Ather Energy Limited
A technology-driven automobile firm, Ather Energy creates sustainable transportation solutions. The business initially wanted to change the Indian two-wheeler sector to include electric cars.
Important Ather Energy facts:
- Founded in 2013 by IIT Madras grads Tarun Mehta and Swapnil Jain, with headquarters in Bangalore, Karnataka.
- The Whitefield, Bangalore, and Hosur factories
- Ather 450 Apex, 450S, 450X, 450X Pro, and Rizta are available.
- Develop electric scooters and recharge stations.
- Replacement of internal combustion engines with efficient electric drives
For product development, Ather Energy designs, engineers, and manufactures crucial components in-house. Vertical integration results in better quality control and quicker innovation cycles.
The firm has invested heavily in Ather Grid, a charging infrastructure network, to serve its electric cars and create the Indian EV ecosystem.
Ather Energy now has an estimated unlisted share price of ₹4,500 per share. Since it is not publicly listed, its value depends on fundraising rounds and market dynamics.
Company Financials
The Draft Red Herring Prospectus (DRHP) and final RHP will provide Ather Energy’s financials. However, some major financial highlights are as follows:
- In FY 2024, Ather had 11.5% of India’s electric two-wheeler market.
- FY 2024 had 1,09,577 electric two-wheeler sales.
- Third place in the market after Ola Electric and TVS Motor Company
- The IPO filings will include revenue, profitability, debt, and other financial parameters. Investors will need this information to evaluate the company’s finances and development.
Key Performance Indicator, Objects of the Issue (Ather Energy IPO Objectives)
Key Performance Indicators:
- Increase in electric two-wheeler market share, sales volume, and year-over-year increase.
- Revenue expansion and diversification
- EBITDA and net profit margins measure profitability.
- Customer satisfaction and retention
- Charging infrastructure growth and use
- Research and development as a proportion of revenue
- Product launch frequency and market reception
Objects of the Issue:
- Increasing manufacturing capacity to fulfill demand
- New product development research and development
- Expanding and strengthening Ather Grid charging infrastructure
- If appropriate, debt repayment to enhance the corporate balance sheet
- Increase market penetration via marketing and brand development
- Working cash needs for company expansion
- General company goals
- Investors will know how the business will use IPO cash when the offer papers are released.
Ather Energy Limited Contact Details, Ather Energy IPO Prospectus, Ather Energy Registrar, Ather Energy IPO Lead Manager(s)
Contact Details: Ather Energy Pvt. Ltd. 3rd Floor, Rajivi Gandhi Salai, Taramani, Chennai, Tamil Nadu 600113 Website: www.atherenergy.com
IPO Prospectus: The Draft Red Herring Prospectus (DRHP) will be available on SEBI’s website once filed. The final Red Herring Prospectus (RHP) will be available closer to the IPO date.
Ather Energy IPO Registrar
| Registrar | Contact Information |
| Name | Link Intime India Private Limited |
| [email protected] |
Ather Energy IPO Lead Managers
| Lead Manager | Contact Information |
| Axis Capital | [email protected] |
| HSBC Securities | [email protected] |
| JM Financial | [email protected] |
| Nomura Financial | [email protected] |
Ather Energy IPO GMP
The Grey Market Premium (GMP) for Ather Energy’s IPO is estimated at ₹300 per share. This demonstrates investor optimism, indicating the shares will list at a premium to the issue price after the IPO.
Key Facts:
- IPO Size: ₹4,500 crore, including ₹3,100 crore from new shares and ₹1,400 crore from existing shareholders.
- Expected Opening Date: October-November 2024.
- Market Sentiment: The GMP indicates substantial demand for Ather Energy’s shares, possibly due to its role in India’s burgeoning electric car sector.
Conclusion
Ather Energy’s IPO offers investors a chance to invest in India’s electric car sector. The firm has grown and innovated in the electric two-wheeler industry, quickly gaining market share.
However, investors should weigh the risks and development possibilities of the EV market and young enterprises. Ather Energy’s success depends on its capacity to increase production, innovate, and manage the EV market.
For every IPO investment, carefully read the offer papers, including the DRHP and RHP. These papers outline the company’s finances, risks, and growth plans.
