Ather Energy Ltd today listed at premium of 2.18% at Rs 328 on the National Stock Exchange, but gave up most of the gains over the day to end the day at Rs 300 per share, 6% below the IPO price.
Ather Energy entered the public markets as it marked a significant step in its journey, with Co-founder and CEO Tarun Mehta sharing insights during the IPO listing ceremony.
“This is a big day for us. We are now mature enough to see that everything that lies ahead will be even bigger, more important, and more business-critical,” Mehta said, acknowledging the company’s 11-year journey filled with milestones that once seemed like life-altering peaks.
Framing the IPO as a test of not just a company’s business model but its long-term thesis, Mehta noted, “A company must mature to trigger the excitement of lakhs of potential shareholders, not just a few early believers. People need to see value in what’s already built and be excited by what’s possible.”
Reflecting on Ather’s evolution from a garage project to a nationally recognised electric mobility brand, he said, “What we had as an engineering project has today scaled into a powerful pan-India brand. We’ve built an engine that can create products, deliver with quality, and scale with a resilient supply chain.”
Looking ahead, Mehta emphasized: “Scale is fundamental. What lies ahead is the opportunity to feed this engine and drive even stronger growth.”
Expressing gratitude to Ather Energy team-members, their families, and long-standing partners, he said: “There’s been a lot of sacrifice to get here. This IPO is not just a celebration of capital, it’s a celebration of belief — in our mission, our product, and our future.”
“It was one of the most audacious things we attempted,” said Swapnil Jain, Co-Founder, Ather Energy.
The core idea was simple but ambitious: to prove that high-quality engineering and talent development could thrive in India. At the time, India was largely seen as a manufacturing base, but not necessarily as a hub for deep tech innovation. “We wanted to explore what true engineering excellence in India could look like,” he said.
Jain acknowledged the many people who placed their trust in that vision early on—professors who offered lab space and guidance, investors who believed in the potential of Indian hardware, and partners who committed to building a local supply chain. “They all took a chance on what seemed like a long shot,” he noted.
Looking back, Jain credited the journey to a group of “crazy ones”—people who believed in disrupting the norm and redefining what was possible. “All our supporters wanted was for a passionate, relentless team to prove that world-class engineering could emerge from India. And we made that vision real,” he concluded.