First profit then loss, IPO of Ether Energy was tasted on the same day

New Delhi: The first IPO of FY 2925-26 was listed in the stock market today. This IPO was of Electric two -wheeler making company Ather Energy. The start of this IPO was a bit slow. Its shares were listed with premium on BSE and NSE but came down from the issue price in a short time.

What is the listing

Atthe Energy shares were listed at Rs 328 on the National Stock Exchange (NSE). This issue price was 2.18% higher than Rs 321. The stock was listed at Rs 326.05 on BSE, which was a premium of 1.57%. But shortly after the list, its price came down from the issue price. At 11.55 am, it was trading at BSE at Rs 311.65, which is 2.91 percent or Rs 9.35 below the issue price. According to BSE data, initially the market cap (Market Capitalization) of the company was Rs 12,144.05 crore, which has been reduced to Rs 11,602.12 crore at this time.

When did this IPO come

Ather Energy IPO (Initial Public Offering) opened on April 28 and closed on 30 April. Through this IPO, the company has raised Rs 2,981 crore. The company making this electric scooter supported by Tiger Global had raised Rs 1,340 crore from anchor investors on 26 April before opening the IPO. SBI Mutual Fund emerged as the biggest investor in the anchor round. He invested Rs 310 crore, which was about 23.1% of the total anchor book.

This year’s first mainboard IPO

This was the first mainboard IPO of the current financial year. This issue of Ather Energy was subscribed to 1.43 times. Qualified Institutional Buyers (QIBS) showed interest in it on the last day. In this IPO, the share of QIBS was 1.7 times subscribed, while the share of retail investors was 1.78 times subscribed. High net-beauty individuals (NIIS) subscribed only 66% of the shares reserved for him. The reserved share for employees was 5.43 times subscribed.

What will happen to the money raised from IPO?

Ather Energy will use the money raised from IPO for many tasks. The company has raised Rs 2,626 crore by issuing new shares in the IPO. After withdrawing the cost of IPO, Rs 927.2 crore will be used to build the new manufacturing plant of Ather, Chhatrapati Sambhajinagar, Maharashtra. The company making EV (Electric Vehicle) has kept Rs 750 crore for Research and Development (R&D), Rs 300 crore for marketing and Rs 40 crore for repaying loans. These money will be spent between FY 2025-26 to FY 2025-28.