Ather Energy Shares List At 2% Premium Over IPO Price

Electric vehicle manufacturer Ather Energy made a tepid stock market debut, with shares listing at just 2% above the IPO price of ₹1,200 before closing 6% lower on the first trading day. The lukewarm response reflects investor concerns about the company's path to profitability in the competitive EV two-wheeler segment. Ather's ₹2,670 crore IPO was subscribed 2.3 times, with strong interest from institutional investors but muted retail participation. The company plans to utilize IPO proceeds for capacity expansion, R&D, and debt repayment. Market analysts attribute the weak listing to rich valuations at 8x FY24 revenue amid slowing EV adoption rates and intensifying competition from both established players and new entrants. Ather's performance highlights the challenges facing capital-intensive EV startups in demonstrating sustainable unit economics to public market investors.