Ather Energy Ltd IPO
Open Demat Account
Ather Energy Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 928.59 L | ₹ 110.52 L | ₹ 92.76 L | ₹ 1,587.29 L | BSE | ₹ 2980.76 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 28 Apr, 25 | 30 Apr, 25 | 46 | ₹ 13,984 | Book Building | 06 May, 25 |
Ather Energy Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Automobiles - Scooters And 3 - Wheelers |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 69568949 | 0 |
| NII | 0x | 13913790 | 0 |
| Retail | 0x | 9275860 | 0 |
| Employee | 0x | 100000 | 0 |
| Total | 0x | 92858599 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Ather Energy Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | -913.00 | -751.70 | -295.70 |
| EBITDA | -766.30 | -638.90 | -247.30 |
| PAT | -1,059.70 | -864.50 | -344.10 |
| Total Assets | 937.20 | 1,022.40 | 255.30 |
| Share Capital | 0.81 | 0.61 | 0.40 |
| Total Borrowings | 686.00 | 1,072.80 | 403.40 |
| Operating Activities (Net Cash) | -913.00 | -751.70 | -295.70 |
| Investing Activities (Net Cash) | 221.60 | 248.50 | -55.40 |
| Financing Activities (Net Cash) | 686.00 | 1,072.80 | 403.40 |
| Net Cashflow | 447.80 | 176.20 | 88.70 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Ather Energy Ltd
Our Company was originally incorporated as Ather Energy Private Limited as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 21, 2013, issued by the Registrar of Companies, Tamil Nadu, Chennai, Andaman and Nicobar Islands. Pursuant to a change in the registered office of our Company, a certificate of registration dated May 31, 2016, was issued by the Registrar of Companies, Karnataka at Bangalore. Upon the conversion of our Company into a public limited company, pursuant to a board resolution dated June 18, 2024, and a shareholders' resolution dated June 21, 2024, the name of our Company was changed to Ather Energy Limited, and a fresh certificate of incorporation dated August 27, 2024 was issued by the Registrar of Companies, Central Processing Centre.
According to the CRISIL Report, India is the largest global motorised 2W market by volume with 18.4 million units sold in Fiscal Year 2024, of which 16% were exports. In the nine months ended December 31, 2024, exports accounted for 17% of the overall 2W sales in India. There is increasing preference for premium vehicles within the 2W industry, with a growth in market share of motorcycles and scooters with an engine capacity of 125 cc and beyond between Fiscal Years 2019 and 2024. The launch of EVs at competitive prices with advanced features is accelerating E2W growth, which is expected to reach 10.3 - 12.3 million units by Fiscal Year 2031. The sharp increase in EV launches, favourable government support, continuation of incentives and benefits, faster momentum in infrastructure development, further lowering of battery prices and improving local value chain is expected to enable a faster shift towards electrifications. Such electrification and premiumisation trends present a large domestic and international opportunity for E2W players.
We are a pure play EV company that sells E2Ws and the associated product ecosystem, comprised of our software, charging infrastructure and smart accessories, all of which are conceptualised and designed by us in India. We manufacture battery packs in-house using lithium-ion cells procured from suppliers and outsource the manufacturing of all other vehicle components, such as electronics and chassis. We procure chargers and motors used in our E2Ws from our suppliers who design and manufacture them. We assemble our E2Ws in-house. Our E2W portfolio comprises two product lines, the Ather 450 and the Ather Rizta, with seven variants. The Atherstack, our in-house developed software, provides features related to navigation, analytics, ride assistance, safety and productivity, and is integrated with our product ecosystem. Our products are positioned at premium prices in their respective segments.
Peer Comparison:
- Hero MotoCorp Ltd
- Bajaj Auto Ltd
- Ola Electric Mobility Ltd
- TVS Motor Company Ltd
- Eicher Motors Ltd
Ather Energy Ltd IPO Key Points
Strengths
- Our ability to pioneer new technologies.
- Our E2Ws are positioned at a premium price in their respective segments in the E2W market.
- Vertically integrated approach to product design with strong in-house R&D capabilities.
- Software defined ecosystem that drives high customer engagement and drives margins.
- Established and scalable technology platform enabling accelerated product launches.
Risk
- Other than the batteries that its manufacture in-house, the company relies on its suppliers to provide all other EV components used in assembling its E2Ws in-house. Any loss of key suppliers, or any failures or refusal by them to supply such components to it could cause business disruptions.
- The company has received some customer complaints pertaining to its products in the past. There is no assurance that the company will not receive similar complaints in the future or that its will be able to address such customer complaints in a timely manner or at all.
- The company has incurred losses since incorporation. The company had stagnant revenue growth in Fiscal Year 2024 and loss before tax of Rs. 5,779 million and Rs. 10,597 million in the nine months ended December 31, 2024 and Fiscal Year 2024, respectively. There is no assurance that the company will be cost effective in its operations or achieve profitability in the future.
Strategy
- Strategic expansion of our product portfolio through our multi-product technology platforms.
- Expand and deepen our distribution network in India and beyond.
- Improving operational efficiency and manufacturing capabilities through the establishment of our Factory 3.0.
- Continue our focus on unit economics.
- Securing our cell supply chain through long-term partnerships.
- Our ability to pioneer new technologies.
- Our E2Ws are positioned at a premium price in their respective segments in the E2W market.
- Vertically integrated approach to product design with strong in-house R&D capabilities.
- Software defined ecosystem that drives high customer engagement and drives margins.
- Established and scalable technology platform enabling accelerated product launches.
How To Apply for Ather Energy Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
