A new listing happened two days ago; something which was a routine few months ago and now has become a rarity. And the stock is buzzing more today than on the listing day.

Ather Energy got listed at Rs.326 v/s IPO price of Rs.321 on 6th May but ended its first day 3.3% down over the issue price at Rs.310.40. The tepid response to the IPO and then the subdued performance on the bourse reflected investor caution towards the electric vehicle (EV) sector, which faces challenges such as intense competition and profitability concerns.

Ather Energy is a 11 year old IIT-Madras incubated pure-play electric scooter manufacturer, with an installed capacity of 4.2 lakh units per annum, at Hosur, Tamil Nadu. It sells 7 scooter variants in 2 models (450 and Rizta, latter launched in May 2024), through 280 outlets. Nearly 60% sales come from South India.

There is no new development as such in the stock except for the Board meeting scheduled for 12^th May for earnings; today it is more of just some value buying by some fund houses who may be reassessing the long-term prospects of Ather Energy in the growing electric vehicle sector.

It's important to note that while the stock has shown improvement, it remains below its IPO price, reflecting ongoing market uncertainties and investor caution.