Ather Energy shares tank 11% after shareholder lock-in ends, ₹856 crore block deal

Shares of Ather Energy Ltd. fell as much as 11% on Thursday, November 6, after its shareholder lock-in came to an end and a large block deal that took place in the stock.As many as 16.23 crore shares of Ather Energy freed up for trade on Thursday as its six-month shareholder lock-in came to an end. The number of share that free up for trade amount to 44% of the company’s outstanding equity, according to Nuvama Alternative & Quantitative Research.

As per Tuesday’s closing price, the number of shares that free up for trading are worth ₹10,800 crore.

It must be noted that the end of the shareholder lock-in does not mean that all the shares will be sold in the open market. They only become eligible to be traded.Based on the September quarter shareholding pattern, promoters of Ather Energy had a 41.22% stake in the company, down from the 42.09% stake in the June quarter.

Among the public shareholders, India’s Mutual Funds have a 12.4% stake in the company, led by SBI MF, Aditya Birla Sun Life MF, and Invesco MF.The National Investment and Infrastructure Fund (NIIF) has a 4.67% stake in the company, while the India Japan Fund has a 5.67% stake.

As many as 1.4 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 4.63% stake in Ather Energy.

In addition to the shareholder lock-in ending, a large trade also took place in the stock earlier in the day.

As many as 1.4 crore shares of Ather Energy worth ₹856.2 crore changed hands at an average price of ₹630 per share. The number of shares that changed hands amount to 3.66% of the outstanding equity.

Shares of Ather Energy are looking to recover from the lows of the day, currently trading 6.4% lower at ₹624.3. The stock has more than doubled in value already in 2025, having gained 106% despite today’s fall.