India, April 30 -- After much-anticipation over India's second EV IPO, Ather Energy's public issue closed with an oversubscription of 1.43X today.

The IPO received bids for 7.65 Cr shares as against 5.34 Cr shares on offer. As had been the case for the initial two days, employees led the investor interest. The company's employees bid for 5.42 Lakh shares, resulting in 5.43X subscription.

Retail investors' interest also remained strong on day three. They placed bids for 1.73 Cr shares against the 97.34 Lakh shares reserved for them, resulting in an oversubscription of 1.78X.

Qualified institutional buyers' (QIB) interest picked up on the final day, as is usually the case, with these investors overbidding their quota by 70%. The QIBs bid...