New Delhi: Ather Energy’s IPO, which opened on April 28 and closed on April 30, saw bids for 7.65 crore equity shares against 5.33 crore equity shares on offer. The issue subscribed 1.43 times was a combination of a fresh issue of 8.18 crore equity shares and an offer for sale (OFS) of 1.11 crore equity shares. The price band was Rs.321 per share.
Ather Energy’s shares will be listed both on the BSE and NSE. Early trends suggest that the grey market premium shows mild gains with a premium of Rs.10-12 per share.
Experts say the tepid premium on the listing is justified, as the IPO was aggressively priced, especially compared to its rival Ola Electric, which also saw an underwhelming listing response to its IPO last year.
Can investors expect better returns?
Ather has a lot to do after being relegated to the number 4 position after Ola Electric, TVS and Bajaj Electric in market share. Ather hasn’t been able to market its product as well as Ola has, but their rising complaints against the company have given it an opportunity it can’t miss. Investors must wait to see how Ather will beat Ola and the others to the top.
Disclaimer: The information provided in this article is for educational purposes only and does not constitute financial advice. The views expressed are the author’s own.
