The IPO market springs back into action as Ather Energy and Iware Supplychain Services open their initial public offerings (IPO) today, April 28, 2025. Investors are eagerly eyeing these two listings for potential opportunities. Here’s everything you need to know:
Ather Energy IPO details
Ather Energy, a specialized electric two-wheeler manufacturer, has launched its ₹2,981 crore IPO. The company, known for building electric two-wheelers (E2Ws) and an integrated EV ecosystem (charging stations, software, smart accessories), plans to raise funds through a combination of a fresh equity share issue worth ₹2,626 crore and an offer-for-sale (OFS) of 1.1 crore shares by existing stakeholders.
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IPO price band: ₹304–₹321 per share
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Face value: Re 1 per equity share
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Open date: April 28, 2025
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Close date: April 30, 2025
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Listing: BSE and NSE on May 6, 2025
Ather intends to utilize the proceeds for setting up a new EV manufacturing facility in Maharashtra, R&D activities, marketing expansion, and debt repayment. Notably, ₹927.2 crore is earmarked for manufacturing, ₹750 crore for research, and ₹300 crore for brand marketing.
The IPO has a 75% quota for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. Employees are eligible for a ₹30 discount per share.
Grey market premium (GMP) update
The grey market indicates a small premium of ₹3, suggesting an expected listing price of ₹324, implying a modest 0.93% upside over the upper price band.
Should you subscribe?
Brokerage firm Bajaj Broking recommends a ‘subscribe for long-term’ strategy for Ather Energy, citing its evolving financials, product ecosystem, and long-term EV growth potential.
Iware Supplychain Services IPO details
Meanwhile, Iware Supplychain Services, an Ahmedabad-based logistics company, has opened its SME IPO today on the NSE Emerge platform.
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IPO price: ₹95 per equity share
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Face value: ₹10 per share
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Issue size: Approx ₹27.13 crore
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Fresh issue only: ₹27.13 crore
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Open date: April 28, 2025
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Close date: April 30, 2025
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Listing: NSE SME platform, effective May 6, 2025
Iware’s IPO is a fixed-price issue, targeting expansion in warehousing, logistics management, and other supply chain services.
The company has reserved not more than 50% for retail investors and not more than 50% for NIIs.
The allotment is expected to be finalized by May 2, 2025, with shares credited and refunds processed by May 5, 2025.
With both IPOs offering differentiated sectoral exposure — Ather Energy leading the EV revolution and Iware Supplychain tapping into India’s growing logistics market — investors should carefully evaluate their risk appetite. Ather Energy is suited for long-term EV believers, while Iware Supplychain appeals to SME growth-focused investors.
