Ather Energy IPO
Ather Energy is a pioneer in the Indian electric two-wheeler market. The company designs and develops E2Ws, battery packs, charging infrastructure, associated software and accessories, and manufactures battery packs and assembles its E2Ws in-house. Its software, the Atherstack, introduced industry-first connected features such as Over-The-Air (“OTA”) updates and ride statistics on the Ather app, according to the CRISIL Report. It had 64 features as at July 31, 2024.
The company’s technological innovations are enabled by its in-house design and research and development capabilities. Its R&D team had 701 on-roll employees, housed at three R&D facilities in Bengaluru, India, as at March 31, 2024. It had 48% of its total workforce dedicated to R&D as at March 31, 2024. As at August 31, 2024, globally, it had 291 registered trademarks, 199 registered designs and 45 registered patents, in addition to pending applications for 11 designs, 93 trademarks and 210 patents.
Ather Energy IPO Details
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Opening Date Mon, Apr 28, 2025 |
Closing Date Wed, Apr 30, 2025 |
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Price Band ₹304 to ₹321 per share |
Issue Size 9,28,67,945 shares(aggregating up to ₹2,981.06 Cr) |
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Face Value ₹1 per share |
Market Lot 46 Shares |
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Listing at NSE,BSE |
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Ather Energy IPO Timeline (Tentative Schedule)
| IPO Open Date | Mon, Apr 28, 2025 |
|---|---|
| IPO Close Date | Wed, Apr 30, 2025 |
| Allotment Date | Fri, May 2, 2025 |
| Initiation Of Refunds | Mon, May 5, 2025 |
| Credit Of Shares To Demat Account |
Mon, May 5, 2025 |
| IPO Listing Date | Tue, May 6, 2025 |
| UPI Mandate Expiry Date | 5 PM on April 30, 2025 |
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Financial Highlights
| Financial Metrics | 31 March 2023 (In Cr.) | 31 March 2022 (In Cr.) | 31 March 2021 (In Cr.) | 31 March 2020 (In Cr.) |
|---|---|---|---|---|
| Total Revenue | 1,806.1 | 413.8 | 86.3 | 48.8 |
| Total Expenses | 2,611 | 717.9 | 291.5 | 244.7 |
| Profit before Tax | -864.5 | -344.1 | -233.2 | -219.9 |
Strengths & Weakness
| Strengths | Weaknesses | ||
|---|---|---|---|
| Ability to pioneer new technologies | Incurred losses and negative cash flows since inception, with no assurance of achieving cost efficiency or future profitability. | ||
| Vertically integrated approach to product design with strong in-house R&D capabilities | Growth depends on demand for electric two-wheelers; if the market underperforms, the business, prospects, and financial results may be impacted. | ||
| Software-defined ecosystem that drives high customer engagement and margins | If the electric two-wheelers fall short on promised performance and quality, there may be a need to conduct recalls or take corrective actions. | ||
| Established and scalable technology | Defects or quality issues in electric | ||
| platform enabling accelerated product launches | two-wheelers, software, or components could result in failure to meet industry standards or advertised performance. | ||
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