Excitement is returning to Dalal Street as the long-awaited IPO scene is set to spark back to life. Ather Energy, supported by Tiger Global, is gearing up for its highly anticipated public offering, scheduled to launch on April 28. This marks a significant moment as it stands as the first major IPO on the mainboard since February, captivating attention not only for its electric vehicle (EV) focus but also for its innovative technology and growth ambitions.

Key Dates for the Ather Energy IPO

The Ather Energy IPO will be available for public subscription from April 28 to April 30, 2023. Prior to this, on April 25, interested anchor investors will have the opportunity to place their bids.

Pricing and Investment Details

The price range for Ather Energy’s IPO has been set between Rs 304 and Rs 321 per share, each with a nominal value of Re 1. Retail investors can participate in the IPO by bidding in lots of 46 shares, translating to a minimum investment of approximately Rs 14,000 to Rs 15,000, depending on the final allocation price.

Allocation Breakdown for Investors

Ather Energy has structured its IPO with a typical book-built format:

• 75% of the offering is designated for Qualified Institutional Buyers (QIBs).
• 15% is reserved for Non-Institutional Investors (NIIs).
• 10% is allocated for retail investors.

Additionally, there are 100,000 shares set aside for eligible employees, who will benefit from a Rs 30 discount per share.

IPO Composition: Fresh Issue and Offer for Sale

The Ather Energy IPO comprises two main elements: a fresh issue of shares amounting to Rs 2,626 crore, aimed at financing expansion, product innovation, and development of charging infrastructure. Furthermore, there is an offer for sale (OFS) of 1.11 crore shares, providing current investors with an option to partially exit their investments.

Allotment and Listing Timeline

If everything proceeds as planned, share allotments are expected to be completed by May 2, followed by refunds starting on May 5. Investors will see shares credited to their demat accounts on the same day, with the official listing on NSE and BSE set for May 6.

Lead Managers and Registrar for the IPO

The IPO is being expertly managed by a consortium of leading firms, including Axis Capital, HSBC Securities, JM Financial, and Nomura Financial. Handling the logistics and investor inquiries is Link Intime India, the designated registrar for this offering.

About Ather Energy

Ather Energy is not just another name in the EV sector; it is a pioneering technology-centric electric mobility brand based in Bengaluru. The company specializes in the design and manufacture of electric two-wheelers (E2Ws) and has created a comprehensive ecosystem that includes charging stations, smart dashboards, vehicle control units, and proprietary software. While much of their technology is developed internally, certain components like motors and chargers are sourced from external suppliers.

With its innovative approach and strong backing, the Ather Energy IPO is poised to attract significant attention from investors eager to tap into the growing electric vehicle market.