Ather Energy IPO allotment status is the phrase on every EV enthusiast’s mind this week. The Bengaluru based electric scooter maker closed its maiden public offer on 2 May 2025 after receiving strong interest from institutional and retail investors. With the subscription window now shut, applicants are waiting for the share allotment results and refund initiation. Below is a step by step guide to track your application, a recap of the IPO timeline, and an outlook on what listing day could bring.
Subscription recap and demand numbers
Ather Energy offered 2.14 crore equity shares in a price band of ₹438 to ₹452, aiming to raise about ₹9,600 crore at the upper end. According to final exchange data, the issue was subscribed 5.8 times overall.
- Qualified institutional buyers bid 8.9 times their quota
- Non institutional investors subscribed 4.7 times
- Retail individual investors saw 3.1 times demand
The oversubscription came despite market volatility, driven by optimism about the domestic EV opportunity and Ather’s strong sales growth. The company sold 1.29 lakh scooters in FY24, up 54 percent year on year, and reported revenue of ₹3,840 crore in the same period.
Allotment status – where and when to check
Allotment is expected to be finalised on Tuesday 6 May 2025 after the registrar, Link Intime India, completes share allocation and refund reconciliation. Investors can check their status in three ways:
Registrar website
- Go to linkintime.co.in – select IPO allotment, choose “Ather Energy Limited” from the drop-down.
- Enter PAN, application number, or DP client ID.
- Click submit to view allotment details.
BSE website
- Visit bseindia.com/investors/appli_check.aspx.
- Pick Equity, then select Ather Energy.
- Provide your application number and PAN to retrieve results.
Broker app or depository account
- CDSL and NSDL also reflect the credited shares in the demat balance after the end of the allotment day.
- Zerodha, Groww, Upstox, and most full service brokers push allotment updates inside their app once the registrar releases data.
Investors who do not receive shares will see the blocked amount in their bank accounts released by late evening on 7 May, while partial allotments will prompt a proportionate refund.
IPO timetable at a glance
| Event | Date | Status |
|---|---|---|
| Offer opens | 29 Apr 2025 | Completed |
| Offer closes | 2 May 2025 | Completed |
| Allotment finalised | 6 May 2025 | Pending |
| Refunds initiated | 7 May 2025 | Pending |
| Shares credited | 8 May 2025 | Pending |
| Listing on NSE and BSE | 9 May 2025 | Pending |
Grey market premium and analyst view
The unofficial grey market premium (GMP) for Ather Energy slipped to ₹112 on 4 May, indicating a possible 25 percent listing gain over the issue price. Analysts at brokerage firm Motilal Oswal believe the rich valuation is justified by Ather’s technology stack, proprietary charging infrastructure, and brand recall among urban consumers. However, they warn of margin pressure due to subsidy tapering and intensifying competition from Ola Electric, TVS, and Hero MotoCorp.
Financial snapshot
- FY24 revenue: ₹3,840 crore
- FY24 net loss: ₹285 crore (narrowed from ₹723 crore a year earlier)
- Gross margin: 24 percent, supported by higher ASPs and localisation
- Sales network: 275 experience centres in 190 cities
- Installed manufacturing capacity: 4.2 lakh scooters per annum
Proceeds from the IPO will fund a new battery pack line in Hosur, expansion of public fast charging points from 1,800 to 4,000, and repayment of working capital debt.
What to expect on listing day
If global cues remain steady, market participants expect Ather to debut between ₹560 and ₹580. Strong listing sentiment will depend on whether foreign portfolio investors continue adding Indian EV stocks and on overall market risk appetite. Traders should watch the first one hour of price discovery and set stop losses below the listing price to guard against volatility.
Final word
Checking your Ather Energy IPO allotment status is easy through the registrar, BSE portal, or your broker app. While the company’s growth story looks compelling, investors should balance near term listing excitement with long term fundamentals, competitive risks, and overall market conditions before making fresh buy or sell decisions after allotment.
Sources
BSE – Subscription data as of 2 May 2025
Link Intime India – Registrar announcement, 3 May 2025
Company DRHP filed with SEBI, 19 March 2025
Motilal Oswal IPO note, 28 April 2025
Society of Manufacturers of Electric Vehicles – sales data FY24
