India, May 6 -- Electric two-wheeler maker Ather Energy Ltd made its stock market debut today, with its shares listing at a 1.57% premium on the BSE. Ather's shares debuted at INR 326.05 apiece over the upper end of the IPO price of INR 321.

On the NSE, the stock opened at INR 328, a 2.18% premium against the issue price.

Ather Energy's INR 2,981 Cr IPO comprised a fresh issue of INR 2,626 Cr and an offer-for-sale (OFS) of INR 355 Cr by existing shareholders.

The issue saw a lukewarm response from investors, closing with a subscription of 1.43X on April 30.

Of the total IPO proceeds, Ather has earmarked INR 927 Cr to establish an electric two-wheeler manufacturing facility in Maharashtra's Chhatrapati Sambhajinagar. The company plans ...