Hero MotoCorp Ltd on Thursday announced that it will raise its stake in Ather Energy Pvt Ltd to 39.7 per cent. It currently holds 36.7 per cent of the stake in the company and will pay Rs 140 crore to buy the additional stake.
“Post the purchase of additional shares, HMCL’s shareholding in Ather would increase to 39.7 per cent (on a fully diluted basis) of the paid-up share capital of Ather,” it said.
The acquisition of additional stake will be completed by January 31, 2024, it said in a regulatory filing.
Ather, the manufacturer of electric two-wheelers, is also aiming to list on the Indian stock market. According to a report by CNBC-TV18, the listing may take place by Diwali next year or early 2025.
