Ather Energy Stock Hits ₹679, Doubles Since IPO, Surpasses Ola Electric

Ather Energy, India’s leading electric two-wheeler maker, continues its bull run, climbing 14.5% in October after a 26% surge in September. The stock’s latest rally comes amid increasing sales, market share growth, and positive investor sentiment.

Despite a modest debut in May, the stock gained momentum over the following months, closing each of the next four months in the green. With today’s rally, the stock is now 106% higher than its IPO.

Highlights:

Ather Energy stock surged 8% to an all-time high of ₹679, extending gains for the sixth consecutive session.

The stock has now doubled since its IPO price of ₹321, delivering massive returns to early investors.

Market cap of Ather Energy has surpassed Ola Electric, reflecting strong demand for electric two-wheelers.

Ather Overtakes Ola in Market Value

The company’s market capitalization rose to ₹24,555 crore, surpassing Ola Electric’s ₹22,702 crore, as the latter faced a 47% drop in quarterly sales.

September 2025 Sales:

Ather Energy: 52,597 units (second position in India)

Ola Electric: 13,371 units (fourth position in India)

Ather now holds a 17% market share in India’s electric two-wheeler segment, behind only TVS and Bajaj Auto.

Production Milestones and Expansion

Rizta plant in Hosur, Tamil Nadu: Rolled out its 500,000th vehicle.

The company continues to expand its retail network and launch new EV platforms like EL and Zenith in the coming years.

Analyst Outlook

Experts remain bullish on Ather’s long-term prospects:

Expected EBITDA positivity in the medium term.

Revenue growth driven by expanding dealerships, product portfolio, and marketing efforts.

Nomura projects a CAGR of 41% in volumes from FY25 to FY28, reaching 436k units by FY28.

FY25 Financials:

Revenue: ₹2,255 crore (+29% YoY)

Losses narrowed to ₹812 crore from ₹1,060 crore

Conclusion:

Ather Energy’s consistent growth, robust sales, and strategic expansion make it a standout performer in the Indian EV market, leaving early investors with substantial gains and establishing the company as a serious rival to Ola Electric.