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Electric two-wheeler manufacturer Ather Energy has approved a fundraise of ₹1,200 crore through a preferential issue of equity shares and convertible warrants to accelerate its next phase of growth.
The company's board has cleared the capital raise, with Hero MotoCorp set to invest nearly ₹960 crore. The India-Japan Fund, managed by the National Investment and Infrastructure Fund (NIIF), will invest ₹200 crore, while Ather Energy's co-founders Tarun Mehta and Swapnil Jain will contribute ₹20 crore each.
Upon the full conversion of the warrants, Hero MotoCorp's shareholding in Ather Energy is expected to increase from 29.48 per cent to 30.68 per cent, further strengthening its strategic partnership with the Bengaluru-based electric vehicle manufacturer.
According to the company, the fresh capital will be deployed to expand manufacturing capacity, strengthen research and development capabilities, accelerate new product development and support business expansion as demand for electric mobility continues to grow in India.
The latest investment underscores continued investor confidence in Ather Energy's long-term growth strategy as the company scales its product portfolio, production capabilities and market presence in the country's fast-growing electric two-wheeler segment.
