Resurfacing HDFC Securities' June 2025 move to initiate Ather Energy with Buy rating, seeing 31% upside
Coverage updates in May–June 2025 also flagged an upcoming lock-in expiry for Ather Energy shares, while highlighting IPO-sentiment and rare-earth supply risks for Indian EV makers.
HDFC Securities initiated Ather Energy with a Buy rating and projected 31% upside. The page also flagged an upcoming lock-in expiry, Ather’s tepid listing impact on IPO sentiment, and rare-earth supply risks for Indian EV makers.
Why this matters
The call follows signals on Ather Energy’s IPO retail tranche reaching 63% subscription on Day 1 and a June narrative combining upside estimates, lock-in pressure and rare-earth supply risks.
Retail-company signals are accelerating, up 201,929% QoQ.