Ather Energy's shares fell 3.3% in their market debut on Tuesday, reversing slight gains from the open, on worries over the company's ability to weather intensifying competition in the electric two-wheeler industry.

Ather Energy shares declined over 6 percent in debut trade on Tuesday after a muted listing on the exchanges. Shares of the electric two-wheeler maker settled 6.54 percent lower at Rs 300 per share on the NSE to its issue price of Rs 321. The company's market valuation stood at Rs 11,173.79 against Rs 12,110.53 crore in the morning trade.

On the NSE, Ather Energy share price on listing was ₹328, a premium of 2.18%. Meanwhile, on the BSE, the stock debuted at 1.57% premium. The listing was lower than what the grey market signalled, as ahead of the stock market debut,