Hero MotoCorp infuses Rs. 124 crore in Ather Energy

Key Highlights:

• Hero MotoCorp will be investing Rs. 124 crore for a 2.2% stake
• Hero will now have a total holding of 41.9% in Ather Energy

Indian two-wheeler giant Hero MotoCorp reported on Thursday, through a stock exchange filing, the acquisition of an additional 2.2% stake in the electric two-wheeler brand Ather Energy.

The investment amounts to around Rs. 124 crore for the additional 2.2% of the shares (on a fully diluted basis) in the electric company. The investment is expected to be completed by 31 July 2024.

Hero MotoCorp currently holds a 39.7% stake in Ather Energy, and with this additional cash infusion, the two-wheeler giant's total holding will increase to 41.9%. As an existing shareholder, Hero MotoCorp's transaction entails purchasing additional shares of Ather Energy from another existing shareholder.

Bengaluru-based Ather Energy is one of the leading manufacturers of electric two-wheelers and their charging infrastructure, with a reported revenue of Rs. 1,753.8 crore in FY24. Ather is engaged in designing, manufacturing, and providing other software and hardware services related to electric automobile infrastructure.

Ather Energy also has its charging infrastructure and is engaged in the storage, distribution, and management of electric power (including energy in the form of batteries) and other ancillary services.

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