Ather's $352 million IPO subscribed fully on final day of bidding

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Ather's $352 million IPO subscribed fully on final day of bidding - Business Standard

Quick Summary:

Ather was one of the first companies to sell e-scooters in India in 2018, but fell behind larger rivals Ola Electric, TVS Motor, and Bajaj Auto, whose discounts and wider distribution networks have driven sales.

Meanwhile, analysts at brokerage Geojit said Ather's IPO "appeared expensive", but recommended it to high-risk investors seeking long-term gains, citing the company's "pioneer" status and robust research and development.

Analysts are viewing Ather Energy's share sale as a litmus test for India's IPO market, where momentum has slowed down amid a broader market decline.