IPO News: EV maker's IPO is going to open on Monday, know the complete details before investing

Ather Energy's Rs 2,981 crore initial public offering (IPO) is set to open on Monday. On April 22, the electric scooter maker submitted a draft red herring prospectus to SEBI for its IPO. Bangalore-based electric vehicle maker Ather Energy has raised Rs 1,340.03 crore from several institutional investors through an anchor book on April 25 ahead of the IPO opening for public subscription.

The Ather IPO will open for subscription on Monday 28 April and close on Wednesday 30 April. Ather's IPO price band has been fixed in the range of Rs 304 to Rs 321 per equity share. The IPO consists of a fresh issue of equity shares valued at Rs 2,626 crore along with an offer for sale (OFS) of 1.1 crore equity shares by promoters and other shareholders. 

Where will the funds be spent Ather intends to allocate Rs 927.2 crore of the total IPO proceeds to set up an electric two-wheeler manufacturing plant in Maharashtra. Apart from this, it will spend Rs 40 crore for debt repayment, Rs 750 crore in research and development and Rs 300 crore on marketing initiatives. These funds will be used from financial year 2026 to 2028. According to the report, as of April 25, 2025, the gray market premium (GMP) for Ather Energy IPO is Rs 5. This means that the estimated listing price could be around Rs 326.

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