The country’s largest two-wheeler maker Hero MotoCorp NSE -0.92 % Friday announced a new investment of up to Rs. 420 Crore in Ather Energy.
The company’s board has approved the investment in one or more tranches. Prior to the proposed investment, Hero MotoCorp’s shareholding in Ather Energy was 34.8% (on a fully diluted basis). Post the investment, the shareholding will increase and the exact shareholding will be determined upon completion of capital raise round by Ather.
Swadesh Srivastava, Head – Emerging Mobility Business Unit, Hero MotoCorp said, “In keeping with our vision ‘Be the Future of Mobility’, we are working on a variety of emerging mobility solutions. We were one of the early investors in Ather Energy and have continued to expand our association over the years.
