The Ather Energy IPO allotment has been finalized, drawing keen attention ahead of its listing on Monday, May 6. With mixed market signals and tepid grey market premium (GMP), investors are eager to see how this electric mobility pioneer performs on debut.
GMP Trends Signal Flat Listing Ahead
According to sources tracking grey market trends, the unlisted shares of Ather Energy are currently quoting at ₹321 — matching the upper end of the IPO price band. This zero GMP suggests a likely flat or even negative listing for early investors.
While GMP can serve as a pulse on investor sentiment, it often fluctuates based on broader market trends, especially in volatile sectors like electric vehicles (EVs). Notably, Ather Energy’s IPO saw lukewarm interest from non-institutional investors (NIIs), with that segment subscribing only 0.69 times.
IPO Allotment: How to Check Your Status
Retail investors and institutions can now check their allotment status through the BSE or the official registrar, Link Intime India Pvt Ltd. Here’s how:
- Visit the BSE allotment page.
- Select “Equity” under Issue Type.
- Choose “Ather Energy Limited” from the dropdown list.
- Enter your application number or PAN.
- Confirm via CAPTCHA and click “Search”.
Alternatively, allotment status can be accessed on the registrar’s portal using similar credentials. This step is crucial for understanding your stake ahead of listing day.
Subscription Details and Financial Snapshot
The ₹2,981 crore IPO, which ran from April 28 to April 30, was subscribed 1.5 times overall. Retail investors showed stronger participation, subscribing 1.89 times, while qualified institutional buyers (QIBs) subscribed 1.76 times. However, weak NII interest hints at cautious sentiment amid uncertain listing gains.
Ather Energy, founded in 2013, is a vertically integrated electric two-wheeler (E2W) company specializing in the design, development, and assembly of electric scooters and supporting tech. Despite its innovative edge, the firm remains loss-making, though revenues are rapidly rising.
| Period | Revenue (₹ crore) | Net Loss (₹ crore) |
|---|---|---|
| FY22 | 413.8 | 864.5 |
| FY23 | 1,783 (est.) | 1,059.7 |
| 9M FY24 | 1,617.4 | 577.9 |
Meanwhile, assets have grown from ₹818.6 crore in March 2022 to ₹2,172 crore by December 2024 — indicating operational expansion despite ongoing losses.
That said, Ather Energy’s market debut on NSE and BSE this Monday will be a key indicator of investor confidence in India’s growing EV ecosystem. With bank rally trends and auto stocks gaining traction, Ather’s performance could influence sentiment across the sector.