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15 Days Price Change

Ather Energy IPO

Closing In

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Profile
Issue Size --
Profile
Price Range 304  to  321 per share
Profile
Min Investment ₹321
Profile
Lot Size 1
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Face Value ₹1
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Draft Prospectus --
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

Ather Energy Limited is an Indian electric vehicle (EV) manufacturer headquartered in Bengaluru, established in 2013 by Tarun Mehta and Swapnil Jain. The company specializes in producing premium electric scooters, including the Ather 450X, 450S, and the family-oriented Rizta model. Ather's scooters are known for their advanced features, such as over-the-air (OTA) updates, touchscreen dashboards, and connectivity through mobile apps. The company operates manufacturing facilities in Whitefield, Bengaluru, and Hosur, Tamil Nadu, with an annual production capacity of 110,000 scooters and 120,000 battery packs. ​ In addition to vehicle manufacturing, Ather Energy has developed an extensive EV charging infrastructure called Ather Grid, comprising over 1,000 fast-charging points across more than 80 cities in India. This network supports both Ather and other compatible electric vehicles, facilitating widespread adoption of electric mobility. ​ Ather Energy has attracted significant investments from prominent entities, including Hero MotoCorp, which holds a 37.2% stake, and other investors such as GIC and NIIF. Despite its early entry into the market, Ather faces intense competition from rivals like Ola Electric and TVS Motor Company, Read More

Basic Info

Face Value 1 per share

Price 304  to  321 per share

P/E (x) -10

Sales( Cr.) 2255

PAT( Cr.) -812

EPS -32

Draft Prospectus --

Exchange BSE-NSE

Promoter

Company Promoters

Tarun Sanjay Mehta Swapnil Babanlal Jain HMCL

Pre Issue Share Holding 52.67%

Post Issue Share Holding --%

Listing Details:

Listing Price: 326.05

Listing Gain: 1.55%

Current Price: 964.1

Gain On Issue: 964.1 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Apr 28, 2025
Closing Date Apr 30, 2025
Allotment May 01, 2025
Refund May 02, 2025
Delivery of Shares May 02, 2025
Listing Date May 05, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 46 14,766
Retail (Max) 13 598 191,958
S-HNI (Min) 14 644 206,724
S-HNI (Max) 67 3082 989,322
B-HNI (Min) 68 3128 1,004,088

Objective of the Issue

1. Capital expenditure to be incurred by the Company for establishment of an E2W factory in Maharashtra, India. 2. Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company. 3. Investment in research and development. 4. Expenditure towards marketing initiatives. 5. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 69643949 122573350 1.8x
NII 13928790 9610865 0.7x
Retail 9285860 17550275 1.9x
EMP 0 0 0x
Total 92858599 139287899 1.5x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Ather Energy Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 0 0 0 4 35 80 409 1781 1754 2255
Other Income 2 6 9 8 14 9 5 21 38 50
Total Income 2 6 9 12 49 88 414 1802 1792 2305
Total Expenditure 6 20 40 101 220 259 669 2489 2441 2836
Operating Profit -4 -14 -31 -89 -171 -171 -255 -687 -649 -531
Interest 0 0 1 8 24 28 41 65 89 111
Depreciation 1 2 5 10 25 35 48 113 147 171
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -175 0
Profit Before Tax -4 -16 -37 -107 -220 -233 -344 -865 -1060 -812
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -4 -16 -37 -107 -220 -233 -344 -865 -1060 -812
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -4 -16 -37 -107 -220 -233 -344 -865 -1060 -812
Adjusted Earnings Per Share -48.8 -176 -399.5 -1171.5 -2408.2 -2555 0 -302.4 0 -27.9

Ather Energy Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 77 245 229 252 250 376 225 614 546 493
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 11 66 111 111 109 121 31 117
Other Non-Current Liabilities 0 1 2 4 30 51 91 223 260 318
Total Current Liabilities 2 6 16 51 126 204 394 1020 1076 1173
Total Liabilities 79 251 259 373 518 741 819 1977 1914 2101
Fixed Assets 6 11 33 156 178 307 335 545 459 616
Other Non-Current Assets 14 32 118 81 149 176 191 124 225 328
Total Current Assets 59 209 108 135 192 259 293 1308 1229 1157
Total Assets 79 251 259 373 518 741 819 1977 1914 2101

Ather Energy Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 80 7 36 15 13 21 5 57 83 228
Cash Flow from Operating Activities -8 -24 14 -138 -182 -140 -228 -871 -268 -721
Cash Flow from Investing Activities -69 -128 -71 -29 -123 -143 -7 -135 -228 -378
Cash Flow from Financing Activities 0 181 36 193 313 297 231 1317 633 703
Net Cash Inflow / Outflow -77 29 -21 26 8 13 -4 311 138 -396
Closing Cash & Cash Equivalent 3 36 15 41 21 5 57 369 506 110

Ather Energy Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -48.78 -176.02 -399.54 -1171.47 -2408.21 -2554.96 0 -302.4 0 -27.91
CEPS(Rs) 0 0 0 0 0 0 0 0 0 -22.04
DPS(Rs) 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 842.11 2663.55 2495.4 2740.44 2709.51 3929.5 0 180.08 0 10.52
Core EBITDA Margin(%) 0 0 0 -2287.31 -523.23 -224.44 -60.7 -39.46 -36.4 -22.13
EBIT Margin(%) 0 0 0 -2343.48 -554.96 -257.77 -70.85 -44.59 -51.41 -26.73
Pre Tax Margin(%) 0 0 0 -2536.02 -622.95 -292.36 -80.36 -48.21 -56.13 -30.94
PAT Margin (%) 0 0 0 -2536.02 -622.95 -292.36 -80.36 -48.21 -56.13 -30.94
Cash Profit Margin (%) 0 0 0 -2298.49 -552.97 -248.37 -69.06 -41.92 -48.36 -24.43
ROA(%) -5.64 -9.77 -14.37 -34.03 -49.36 -37.04 -44.12 -61.85 -54.48 -40.47
ROE(%) -5.79 -10.04 -15.49 -44.75 -88.17 -76.97 -125.74 -245.84 -225.9 -222.73
ROCE(%) -5.78 -10.03 -14.88 -35.62 -52.3 -41.99 -56.65 -98.57 -99.07 -77.81
Receivable days 0 0 0 0 0 0 0.85 0.22 0.27 0.93
Inventory Days 0 0 0 1041.12 154 170.15 50.04 32.37 36.16 25.11
Payable days 0 0 0 95.53 48.45 155.43 89.63 57.72 87.95 93.7
PER(x) 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0 0 0 5.97 3.78 1.46 0.51 0.17 -0.08 0.05
EV/Core EBITDA(x) 0.73 2.26 0.11 -0.28 -0.78 -0.68 -0.83 -0.45 0.2 -0.2
Net Sales Growth(%) 0 0 0 0 732.97 126.06 412.41 335.53 -1.52 28.58
EBIT Growth(%) 0 -260.84 -123.48 -175.2 -97.26 -5 -47.5 -163.51 -21.41 27.71
PAT Growth(%) 0 -260.84 -126.99 -193.21 -104.61 -6.09 -47.49 -151.24 -22.58 23.35
EPS Growth(%) 0 -260.84 -126.99 -193.21 -105.57 -6.09 100 0 100 0
Debt/Equity(x) 0 0 0.05 0.26 0.73 0.48 1.58 0.94 0.74 1.47
Current Ratio(x) 34.09 37.21 6.61 2.63 1.52 1.27 0.74 1.28 1.14 0.99
Quick Ratio(x) 34.09 37.21 6.61 2.4 1.38 0.99 0.59 1.03 1.03 0.78
Interest Cover(x) 0 0 -63.73 -12.17 -8.16 -7.45 -7.45 -12.3 -10.91 -6.34
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 29% 77% 130% 0%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 207% NA% NA% NA%
ROE Average -223% -231% -179% -106%
ROCE Average -78% -92% -75% -49%

Company Contact Information

Ather Energy Ltd.

3rd Floor , Tower D I B C Knowledge Park # 4 / 1 Bannerghatta Main Road

IPO Lead Manager(s)

Ather Energy Ltd.

Axis Capital Ltd.

HSBC Securities & Capital Markets (India) Pvt Ltd

JM Financial Ltd.

Nomura Financial Advisory & Securities (India) Pvt Ltd.

Registrar Info

Ather Energy Ltd.

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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