Hero MotoCorp to invest $16.8 Mn in Ather Energy for additional 3% stake
Shortpedia
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Pawan Munjal-led Hero MotoCorp will buy an additional 3% stake in Bengaluru-based EV startup Ather Energy for up to INR 140 Cr ($16.8 Mn). With this deal, Hero’s stake in Ather will increase to 39.7% from the current 36.6%, the former said in a regulatory filing on Thursday. In September this year, Ather raised INR 900 Cr (around $108 Mn) from its existing shareholders Hero MotoCorp and Singapore’s GIC through a rights issue.
