Ather Energy IPO Day 3: Muted QIB demand, sliding GMP —Will the issue cross the finish line?

Ather Energy’s Rs 3,000-crore IPO is just 37% subscribed on the final bidding day, with QIB interest notably weak at only 2%.

GMP has dropped to just Rs 1, reflecting near-zero listing enthusiasm, down from Rs 7 before the IPO opened.

At Rs 321 upper band, Ather’s valuation is about $1.4 billion—44% lower than earlier fundraising plans amid cautious investor sentiment.

Brokerages offer cautious to optimistic "Subscribe" calls, citing high growth potential but steep valuations.