Ather Energy board approves $125M raise via shares and warrants, backed by Hero MotoCorp
EV two-wheeler maker Ather Energy will raise 12 billion rupees ($124.7M) through preferential shares and warrants led by existing investors. Hero MotoCorp lifts stake to 30.68% from 29.48%; India-Japan Fund to 6.02%. Funds target product development, battery tech and manufacturing as Indian EV penetration crossed 10% in June. Shares rose ~8% to 1,292 rupees.
EV two-wheeler maker Ather Energy's board approved a 12 billion rupee capital raise via preferential shares and warrants, backed by existing investors led by Hero MotoCorp, funding product development, battery tech and manufacturing amid rising Indian EV penetration.
Why this matters
Reinforces Ather Energy's funding momentum, echoing prior signals of the Rs 1,200 Cr preferential issue led by Hero MotoCorp and India-Japan Fund, cementing Hero's deepening stake at 30.68%.
Retail-company signals accelerating at +804,400% QoQ.