On May 6, 2025, Ather Energy, the Bengaluru-based electric scooter manufacturer, made its debut on the Indian stock market with a modest 2% increase over its issue price, listing at ₹328 per share compared to the IPO price of ₹321 . The company's IPO, which raised $352 million, stands as the third-largest in India for the year, bolstered by significant investments from institutional entities such as the Abu Dhabi Investment Authority and Temasek.

Despite the successful listing, Ather's entry into the public market coincided with a broader downturn in Indian equities. The Nifty 50 index declined by 0.35% to 24,375.55, and the BSE Sensex fell by 0.32% to 80,539.3. This decline was primarily attributed to losses in the pharmaceutical and financial sectors, which overshadowed gains in the automotive sector, notably Mahindra & Mahindra's 3.1% rise.

Ather's IPO journey was marked by strategic adjustments, including a 15% reduction in the fresh issue size and a 44% cut in its valuation target, bringing it down to $1.4 billion. These changes reflect the company's response to global market uncertainties and investor sentiment . Proceeds from the IPO are earmarked for expanding manufacturing capabilities, particularly the establishment of a third facility, and enhancing research and development efforts to stay competitive against rivals like Ola Electric, TVS Motor, and Bajaj Auto.

Hero MotoCorp, Ather's largest shareholder with a 40% stake, chose not to divest any shares during the IPO, signaling confidence in Ather's long-term prospects . As Ather navigates its new phase as a publicly listed entity, its performance will be closely watched by investors and industry observers alike.