Ather Energy’s Unlisted Shares Trade at ₹0 GMP Before Listing
Ather Energy, a leading electric vehicle (EV) manufacturer, has made headlines recently with its successful initial public offering (IPO). The company’s unlisted shares are now trading at ₹321 apiece, a zero grey market premium (GMP) over the IPO issue price of ₹321. This development comes as the company prepares to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on May 6.
The IPO of Ather Energy, which opened on April 28 and closed on April 30, was subscribed 1.5 times overall. The issue received a strong response from investors, with the retail segment being subscribed 2.3 times and the non-institutional investor segment being subscribed 1.4 times. The company had raised ₹2,981 crore through the IPO, making it one of the most successful recent IPOs in the Indian market.
The unlisted shares of Ather Energy have been trading at a zero GMP, which means that the shares are trading at the same price as the IPO issue price. This is a rare phenomenon in the Indian market, where IPO shares often trade at a premium or discount to their issue price in the grey market.
A GMP is a premium or discount that an unlisted share trades at over its issue price. In the case of Ather Energy, the unlisted shares are trading at the same price as the IPO issue price, which means that there is no GMP. This could be due to several factors, including the strong demand for the company’s shares during the IPO and the relatively low supply of unlisted shares in the market.
The listing of Ather Energy’s shares on May 6 is expected to be a significant event for the company and its investors. The listing will provide investors with an opportunity to buy and sell the company’s shares on the stock exchanges, and it will also mark a major milestone in the company’s journey as a publicly listed entity.
Ather Energy is one of the leading EV manufacturers in India, and its IPO has generated a lot of interest among investors. The company has a strong track record of innovation and has developed a range of popular EV products, including the Ather 450X and the Ather 450 Plus. The company’s IPO has been seen as a major boost for the EV industry in India, and it is expected to pave the way for other EV companies to list their shares on the stock exchanges.
In conclusion, the unlisted shares of Ather Energy are trading at ₹0 GMP before its listing on May 6. This is a rare phenomenon in the Indian market, and it reflects the strong demand for the company’s shares during its IPO. The listing of Ather Energy’s shares is expected to be a significant event for the company and its investors, and it will mark a major milestone in the company’s journey as a publicly listed entity.
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