Ather Energy’s IPO sees 16% subscription on first day

Electric two-wheeler (E2W) maker Ather Energy launched its initial public offering (IPO) on April 28, with investors subscribing to 16 percent of the total shares available.According to data from the BSE, bids were placed for 8.6 million shares out of the 53 million offered. The retail portion was subscribed 0.63 times, while non-institutional investors (NIIs) subscribed 0.16 times.

Qualified institutional buyers (QIBs) placed bids for just 5,060 shares on the first day against the 28.9 million shares allocated for the segment. However, the…