Ola Electric, Ather Energy Vroom Up To 14 Per Cent – Know Which EV Stock Has Made IPO Investors Richer

Shares of electric two-wheelers rallied on September 1, 2025. The share prices of Ola Electric and Ather Energy surged nearly 14 per cent on the NSE. The gains come amid positive developments for the electric two-wheeler stocks. Notably, both the electric two-wheeler stocks made their respective D-Street debuts in the past one year.

Shares of Ola Electric have rallied more than 48 per cent in the past month, and shares of Ather Energy have gained over 38 per cent on the NSE. The recent surges in shares of the two stocks have led to significant gains for investors who own shares of the two companies.

How Much Do IPO Investors Gain Amid E2W Rally

Ather Energy made its D-Street debut on May 6, 2025. Ather Energy raised Rs 2,916.05 crore through its public issue consisting of a fresh issue of 81.8 million shares aggregating to Rs 2,569.03 crore and an offer for sale (OFS) of 11.1 million shares aggregating to Rs 347.02 crore. 

Investors who bid for the Ather Energy’s initial public offering (IPO) and were allotted at least one lot of shares would have invested a minimum of Rs 14,766 (Rs 321 x 46). At the record high, the stock has hit today, investors who were allotted at least one lot would have made a profit of Rs 8,822.8 (Rs 23,588.8 - Rs 14,766).

Shares of Ola Electric listed on the exchanges on August 9, 2024. Ola Electric Mobility IPO was worth Rs 6,145.56 crore. The electric two-wheeler manufacturer’s issue comprised a fresh issuance of 723.80 million shares amounting to Rs 5,500.06 crore and an OFS of 84.90 million shares amounting to Rs 645.50 crore.

Retail investors who were allotted at least one lot consisting of 195 shares would have spent Rs 14,820 (Rs 76 x 195). At the day-high, the stock traded at Rs 62.35 apiece on the NSE. Given this price, the stock would have led to a loss of Rs 2,661.75 (Rs 14,820 - Rs 12,158.25) for investors who hold at least one lot of Ola Electric’s stock.

Why Are E2W Stocks Gaining?

Shares of Ola Electric surged 14.52 per cent to hit an intra-day high of Rs 61.90 apiece on the NSE. The stock gained amid high trading volumes and a surge in investor interest in the electric two-wheeler space. The stock has been gaining after the company informed the exchanges on August 26 that it has received certification of compliance from the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, Government of India, for the production-linked incentive scheme for the automobile and auto components sector. 

The certification is applicable for the seven models which are part of Ola’s Gen 3 S1 scooter range. Ola Electric is eligible for incentives between 13 per cent and 18 per cent of the determined sales value (DSV) until 2028. The PLI certification is coupled with improvements in the company’s financials in the June quarter of FY26, such as its gross margin for the auto segment improving to 25.6 per cent in Q1 FY26 from 13.8 per cent in Q4 FY25. 

Additionally, the company’s earnings before interest depreciation tax and amortisation (Ebitda) also turned positive in the June quarter of FY26. Shares of Ather Energy have surged 13.90 per cent to trade at a record high of Rs 512.80 apiece on the NSE. The electric two-wheeler company’s stock surged after its new scooter platform ‘EL’ was unveiled at Ather Community Day 2025 on August 30. The company’s co-founder and CEO, Tarun Mehta, told PTI in an interview that the company’s troubles with the restricted supply of rare earth magnets are ‘sorted out’ for now.

“I think it [the issue of restricted supply of rare earth magnets] is sorted out for now. But I think the better answer now is to move away from heavy rare earths to at least light rare earths, which is what we are trying to do at Ather,” Mehta told PTI.

Earlier in April, China put export curbs on several rare earth elements, such as neodymium, dysprosium, terbium, samarium, gadolinium, praseodymium, and cerium, as well as rare earth magnets. Notably, rare earth magnets are a key component in the manufacturing of EVs.