Ather Energy gets Buy call as lock-in share releases approach
HDFC Securities initiated coverage on Ather Energy with a Buy rating and 31% expected upside, while coverage flagged lock-in expiries that could make nearly 6% of shares eligible for trading between April and June 2025.
HDFC Securities began Ather Energy coverage with a Buy rating and 31% expected upside. Coverage also flagged forthcoming lock-in share releases, tepid listing sentiment and rare-earth export risks to Indian EV production.
Why this matters
The call follows Ather Energy's April 2025 IPO signal, when Day 2 subscription reached 28% and the retail quota filled, plus its positive quarterly Ebitda signal. Attention is shifting from listing demand to profitability and potential share-supply changes.
Retail-company signals are accelerating, up 208029% QoQ.