New Delhi, Apr 30 (PTI) Electric two-wheeler maker Ather Energy's initial public offer got subscribed 1.43 times on the closing day of bidding on Wednesday backed by oversubscription in QIBs and retail investors categories.

The Rs 2,981-crore initial share sale received bids for 7,65,33,972 shares against 5,33,63,160 shares on offer, according to data available with the NSE.

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Retail Individual Investors (RIIs) part fetched 1.78 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 1.70 times amid a volatile market condition. The portion for non-institutional investors received 66 per cent subscription.

Ather Energy Ltd on Friday said it has mobilised Rs 1,340 crore from anchor investors.

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The public issue has a price band of Rs 304-321 apiece.

This was the first mainboard public issue of current financial year 2025-26.

The initial public offer (IPO) is a combination of a fresh issue of equity shares worth Rs 2,626 crore and an offer-for-sale of 1.1 crore equity shares by promoters and other shareholders.

At the upper end of the price band, the IPO size is pegged at Rs 2,981 crore, placing the company's overall valuation at Rs 11,956 crore.

This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year.

Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), and HSBC Securities & Capital Markets are the book-running lead managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)