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Ather Energy’s stock started the trade at Rs 326.05, up 1.57 per cent from the issue price on the BSE. Later, it climbed 3.70 per cent to Rs 332.90.
Ather Energy IPO.
Shares of electric two-wheeler maker Ather Energy Ltd on Tuesday listed with a premium of over 2 per cent against the issue price of Rs 321. The stock started the trade at Rs 326.05, up 1.57 per cent from the issue price on the BSE. Later, it climbed 3.70 per cent to Rs 332.90.
At the NSE, it listed at Rs 328, a premium of 2.18 per cent.
The company’s market valuation stood at Rs 12,110.53 crore.
Prashanth Tapse, senior vice-president (research) of Mehta Equities Ltd, said, “As expected, we see a flat listing, which was justified, as the issue was aggressively priced, especially when benchmarked against peer OLA Electric. We continue to believe the electric two-wheeler (EV 2W) segment remains highly competitive and capital-intensive, with most players, including market leaders, struggling to achieve sustainable profitability and raising concern with new investors.”
“Given these facts and risks, we recommend a ‘HOLD’ only to risk taking investors, who are comfortable with short- to medium-term volatility while conservative investors may still prefer a wait-and-watch, allowing the stock to settle with some reasonable valuation post-listing,” he added.
Tapse said industry being in the high growth-high competition-high cash burning segment, there will be high volatility both in business as well as in the price action, hence investors should be aware of volatility and risk in short to medium term investing.
In the equity market, the 30-share BSE benchmark gauge was trading 238.61 points lower at 80,549.43. The NSE Nifty was quoted 81.05 points down at 24,380.10.
Ather Energy’s initial public offer got subscribed 1.43 times on the closing day of bidding on Wednesday, backed by oversubscription in QIB and retail investor categories.
The Rs 2,981-crore initial share sale had a price band of Rs 304-321 apiece.
This was the first mainboard public issue of the current financial year 2025-26.
The initial public offering (IPO) was a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders.
This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year.
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