Ather Energy Shares Slip 6% After Muted Listing; Here's What Analysts Say

Shares of newly-listed Ather Energy tanked 5.76 per cent to adjacent astatine Rs 302.50 pursuing their tepid listing connected bourses. The electrical two-wheeler subordinate sewage listed astatine Rs 328 connected NSE, a premium of 2.18 per cent complete its rumor value of Rs 321 (upper value band). The banal started nan waste and acquisition astatine Rs 326.05 connected BSE, up 1.57 per cent from nan rumor price.

Ather's Rs 2,981-crore first stock waste was subscribed 1.43 times connected its last day, driven by beardown liking from qualified organization buyers (1.70x) and unit investors (1.78x). Non-institutional investors received 66 per cent subscription. The connection comprised a caller rumor of Rs 2,626 crore and an offer-for-sale (OFS) worthy Rs 354.8 crore by existing shareholders. The institution had earlier raised Rs 1,340 crore from anchor investors.

The IPO was priced astatine Rs 304–321 per share, valuing nan institution astatine Rs 11,956 crore astatine nan precocious band. Aether is nan first mainboard IPO of nan financial twelvemonth 2025-26 (FY26) and nan 2nd electrical EV shaper to spell public, aft Ola Electric Mobility Ltd.

Pricey erstwhile compared to Ola Electric?

Prashanth Tapse, Senior VP (Research) astatine Mehta Equities, mentioned that nan EV firm's level listing was justified arsenic nan rumor was aggressively priced arsenic against its adjacent Ola Electric.

"We proceed to judge nan electrical two-wheeler conception remains highly competitory and capital-intensive, pinch astir players, including marketplace leaders, struggling to execute sustainable profitability and raising concerns pinch caller investors. Given these facts and risks, we urge a 'HOLD' only to risk-taking investors, who are comfortable pinch short- to medium-term volatility, while blimpish investors whitethorn still for illustration a wait-and-watch, allowing nan banal to settee pinch immoderate reasonable valuation post-listing," he stated.

Investors should beryllium alert of volatility and consequence successful short- to medium-term investing, Tapse added.

Gaurav Garg of Lemonn Markets Desk said, "The IPO saw a lukewarm response. The stock's anemic listing and consequent dip bespeak cautious investor sentiment astir its steep valuation. However, continued downward unit could thief realign its valuation, perchance making it much charismatic to value-conscious investors."

Bengaluru-based Ather is simply a pure-play electrical two-wheeler institution engaged successful nan design, development, assembly of electrical scooters, artillery packs, charging infra, and supporting package systems.