IPO Details – IPO date: 28th April-30th April 2025 – Price Band: ₹304-₹321/ share – Lot size: 46 – Issue size: ₹ 2,980 Cr
Company Overview – Sells electric two-wheelers and an associated product ecosystem. – Founded in 2013 by Tarun Mehta and Swapnil Jain. – Operates “Ather Grid” with over 1,000 charging points across 80+ cities.
Green Flags – Vertical integration of EV Infrastructure. – Hero MotoCorp holding around 38% stake – Good response of Family Scooter- Ather Rizta series
Red Flags – Consistent Financial Losses – Stiff competition from Ola Electric and TVS Motors. – Most Expensive scooters in the market. – Declining Grey Market Premium