Ather Vitality IPO: Worth Band, Financials, Key Dates, GMP And Extra

Bengaluru-based electrical two-wheeler firm Ather Vitality Ltd.’s preliminary public providing is scheduled to open on April 28, marking India’s first mainboard main market providing within the present fiscal.

The worth band for the IPO has been set within the vary of Rs 304 to Rs 321 per share. The market worth on the higher finish of the value band is Rs 11,955.7 crore, as per Newsstate24 Revenue‘s calculations. Bids will be made for no less than 46 shares, after which in multiples thereof.

⁠The provide consists of each a problem of recent shares price Rs 2,626 crore, and a proposal on the market price Rs 354.8 crore, in keeping with the crimson herring prospectus. The OFS will entail sale of fairness by firm’s founders and promoter promoting shareholders Tarun Mehta, Swapnil Jain, amongst others.

Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., JM Monetary Ltd., and Nomura Monetary Advisory and Securities (India) Pvt. are the book-running lead managers to the problem. MUFG Intime India Pvt. is the registrar to the provide.

The fairness shares are proposed to be listed on each the BSE and Nationwide Inventory Alternate.

Ather Vitality IPO Particulars

Problem opens: April 28.
Problem closes: April 30.
Problem worth: Rs 304-321.
Supply on the market: Rs 354.8 crore.
Contemporary situation: Rs 2,626 crore.
Whole situation dimension: Rs 2,980.7 crore.
Lot dimension: Minimal 46 shares, after which in multiples thereof.

Enterprise

Ather Vitality is a pure play Indian electrical two-wheeler maker, and in addition offers related product ecosystem, comprising software program, charging infrastructure and good equipment, all of that are conceptualised and designed by the corporate.

Aside from in-house battery packs, transportable chargers and motors, different key E2W elements, akin to motor controllers, transmissions, car management models, dashboards, DC-DC converters, harnesses, and chassis are designed in-house by the corporate and outsourced to suppliers for manufacturing.

The corporate offered 1.07 lakh and 1.09 lakh E2Ws within the 9 months ended Dec. 31, 2024 and financial 2024, respectively.

Ather Vitality IPO: Use Of Proceeds

The corporate goals to utilise Rs 927.22 crore in the direction of capital expenditure for its Maharashtra E2W manufacturing facility, alongside Rs 40.03 crore for reimbursement of borrowings, Rs 750 crore for funding in R&D and Rs 300 crore in expenditure in the direction of advertising.

Monetary Efficiency And Trade Friends

The corporate reported a 28.30% rise in income at Rs 1,578.9 crore within the first 9 months of the monetary yr ending in 2025, from Rs 1,230.4 crore in the identical interval of the earlier fiscal. Web revenue slipped 25.60% to Rs 577.9 crore. The corporate reported an Ebitda lack of Rs 408.5 crore in the identical interval.

As of Feb. 28, 2025, the corporate’s debt pile stood at Rs 533.6 crore.

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The EV participant’s listed friends embrace Hero MotoCorp Ltd., Bajaj Auto Ltd., Ola Electrical Mobility Ltd., TVS Motors Co. and Eicher Motors Ltd. Right here is how its efficiency stacks up in opposition to them:

Ather Vitality IPO: Key Dangers

Apart from the batteries manufactured in-house, the corporate depends on exterior suppliers for all different EV elements utilized in assembling its electrical two-wheelers. Any lack of key suppliers or disruptions in part provide might influence operations.
The corporate has incurred losses since its inception. In fiscal 2024, it recorded stagnant income progress, with a loss earlier than tax of Rs 1,059.7 crore and Rs 577.9 crore within the 9 months ended Dec. 31, 2024. There isn’t any assurance of value effectivity or future profitability.
The corporate’s progress depends on the demand for and adoption of electrical two-wheelers. Slower-than-expected market growth might adversely have an effect on its enterprise and monetary efficiency.
Gross sales are closely concentrated in South India, exposing the corporate to heightened dangers from pure disasters, regional instability, and regulatory adjustments in that area.

Ather Vitality IPO GMP

The gray market premium of the Ather Vitality IPO is Rs 5 as of 06:31 a.m. on April 25, in keeping with InvestorGain. This suggests shares of the corporate will probably record at Rs 326 apiece, indicating a 1.56% premium to the higher finish of the value band.

It must be famous that GMP or gray market worth just isn’t an official worth quote for the inventory and is predicated on hypothesis.