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Ather Energy IPO: Key Details, Growth Potential, and Investment Opportunities
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Posted by team Moneyopedia
Table of Content
Ather Energy IPO Share Price, Date, GMP, and Allotment Details
Founded in 2013, Ather Energy is a pioneering Indian EV company, renowned for designing and developing electric two-wheelers, battery packs, and charging infrastructure. Their flagship model, the Ather 450 series, is available in multiple variants, positioning them as a significant player in India’s electric vehicle (EV) market.
Website: Ather Energy
Overview of Ather Energy Limited
Ather Energy is among India’s earliest electric vehicle manufacturers, focusing on high-performance electric scooters and an expanding network of charging infrastructure. Founded by Tarun Mehta and Swapnil Jain, the company has become synonymous with innovation and sustainability, driving forward the country’s EV ecosystem with cutting-edge technology and customer-centric solutions.
Financial Overview
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Total Revenue (INR Crore) | 86.3 | 413.8 | 1,806.1 | 1,753.8 |
| Total Expenses (INR Crore) | 291.5 | 717.9 | 2,611 | 2,538 |
| Profit Before Tax (INR Crore) | -233.2 | -344.1 | -864.5 | -784.3 |
| Net Worth (INR Crore) | 2,249 | 6,137 | 5,459 | N/A |
Key Operational Metrics
| Metric | Value |
|---|---|
| Market Share | ~11.5% |
| Manufacturing Capacity | 266,850 E2Ws/year |
| Experience Centres | 208 across India |
| Service Centres | 191 across India |
| Total E2Ws Sold (FY 2024) | 109,577 units |
Market Comparison
| Company | Market Share (%) | Revenue (FY 2023) | Profit/Loss (FY 2023) |
|---|---|---|---|
| Ather Energy | ~11.5 | ₹1,806.1 crore | -₹864.5 crore |
| Ola Electric | 20-25 | N/A | N/A |
| TVS Motor Company | 15-20 | N/A | N/A |
| Bajaj Auto | 10-15 | N/A | N/A |
IPO Overview and Anchor Investors
Ather Energy’s IPO aims to raise ₹3,100 crore. This includes fresh equity issuance, along with an offer for sale from existing investors and promoters, comprising a total of 2.2 crore shares.
IPO Details
| Detail | Information |
|---|---|
| IPO Size | Fresh issues aggregating up to ₹31,000 million |
| Offer for Sale | Up to 22,000,766 equity shares |
| Equity Share Face Value | ₹1 per share |
| IPO Type | 100% Book Built |
| Promoters | Tarun Mehta, Swapnil Jain, Hero MotoCorp |
Anchor Investors and Their Stakes
- Tarun Mehta & Swapnil Jain (Co-founders): Offering 1 million shares each.
- Caladium Investment Pte Ltd: Offering 10.52 million shares.
- National Investment and Infrastructure Fund II: Offering 4.61 million shares.
- Internet Fund III Pte. Ltd: Offering up to 4 million shares.
Promoter Holdings
Hero MotoCorp remains a major stakeholder, holding 37% of Ather Energy, while co-founders Tarun Mehta and Swapnil Jain own approximately 7% each.
Key Shareholders
| Stakeholder | Percentage Holding |
|---|---|
| Hero MotoCorp | 37% |
| Tarun Mehta | ~7% |
| Swapnil Jain | ~7% |
| GIC | >15% |
| Tiger Global | >6% |
Expected IPO Timeline
While specific dates are to be confirmed, the IPO is tentatively set for October to November 2024. Important dates include:
| Activity | Date (Tentative) |
|---|---|
| IPO Opening Date | October-November 2024 |
| IPO Closing Date | October-November 2024 |
| Basis of Allotment | To be announced |
| Refund Initiation | To be announced |
| Demat Credit of Shares | To be announced |
| Listing Date | To be announced |
Key Performance Indicators and IPO Objectives
Performance Indicators
Ather Energy’s success metrics include revenue growth, EV market share, customer retention, charging infrastructure expansion, and product development cycles. These indicators reflect the company’s commitment to sustainable growth and innovation.
Objectives of the IPO
Funds from the IPO will primarily be used for:
- Expanding production capacity to meet rising demand.
- Advancing R&D for new product innovations.
- Strengthening Ather Grid, the company’s charging infrastructure.
- Repaying debt to enhance financial stability.
- General corporate purposes and marketing.
Contact Information and Prospectus Access
Address: Ather Energy Pvt. Ltd., 3rd Floor, Rajiv Gandhi Salai, Taramani, Chennai, Tamil Nadu 600113
Website: www.atherenergy.com
The Draft Red Herring Prospectus (DRHP) will be accessible via SEBI’s website upon filing. The final prospectus will be available closer to the IPO date.
Registrar and Lead Managers
| Role | Contact Information |
|---|---|
| Registrar | Link Intime India Private Limited |
| [email protected] | |
| Lead Manager - Axis Capital | [email protected] |
| Lead Manager - HSBC Securities | [email protected] |
| Lead Manager - JM Financial | [email protected] |
| Lead Manager - Nomura Financial | [email protected] |
Ather Energy IPO Grey Market Premium (GMP)
The IPO is expected to open with a Grey Market Premium of ₹300 per share, indicating strong demand and positive sentiment within the market.
Conclusion
Investing in Ather Energy’s IPO presents an opportunity to engage in India’s rapidly evolving EV sector. With their innovative approach and market reach, Ather is poised for significant growth. However, prospective investors should carefully examine the prospectus documents for a comprehensive assessment of financials, risks, and growth prospects.
FAQs
When is Ather Energy’s IPO expected to open?
The IPO is expected to open in October or November 2024.
What is the expected price range for the IPO?
Ather Energy has yet to announce the price range, which is typically revealed closer to the IPO date.
How can I apply for Ather Energy’s IPO?
Investors can apply through registered stock exchanges, brokerages, and financial institutions upon the IPO’s launch.
Is Ather Energy profitable?
As of FY 2024, Ather Energy is not yet profitable, with recorded losses driven by investment in R&D and infrastructure expansion.
Who are Ather’s major competitors in India?
Competitors include Ola Electric, TVS Motor Company, and Bajaj Auto, which are also key players in India’s electric vehicle market.
