Hero MotoCorp infuses Rs. 124 crore in Ather Energy

Vishesh Goyal|Updated on:07-Jun-2024 10:34 AM

Share via:

5,328 Views

ByVishesh Goyal

Updated on:07-Jun-2024 10:34 AM

5,328 Views

Hero MotoCorp will be closing the deal to buy 2.2% additional shares of Ather Energy by the end of July 2024.

Hero MotoCorp infuses Rs. 124 crore in Ather Energy — Img Src: The Plung Daily

Key Highlights:

Hero MotoCorp will be investing Rs. 124 crore for a 2.2% stake
Hero will now have a total holding of 41.9% in Ather Energy

Indian two-wheeler giant Hero MotoCorp reported on Thursday, through a stock exchange filing, the acquisition of an additional 2.2% stake in the electric two-wheeler brand Ather Energy.

The investment amounts to around Rs. 124 crore for the additional 2.2% of the shares (on a fully diluted basis) in the electric company. The investment is expected to be completed by 31 July 2024.

Hero MotoCorp currently holds a 39.7% stake in Ather Energy, and with this additional cash infusion, the two-wheeler giant's total holding will increase to 41.9%. As an existing shareholder, Hero MotoCorp's transaction entails purchasing additional shares of Ather Energy from another existing shareholder.

Bengaluru-based Ather Energy is one of the leading manufacturers of electric two-wheelers and their charging infrastructure, with a reported revenue of Rs. 1,753.8 crore in FY24. Ather is engaged in designing, manufacturing, and providing other software and hardware services related to electric automobile infrastructure.

Ather Energy also has its charging infrastructure and is engaged in the storage, distribution, and management of electric power (including energy in the form of batteries) and other ancillary services.

Also Read:: Top 5 Features of Ather 450 Apex Explained

Ken Roczen Rejoins Suzuki and H.E.P. Motorsports for 2025 SMX Season

Ken Roczen is set to compete in the 2025 SuperMotocross World Championship with Suzuki and H.E.P. Motorsports aboard the RM-Z450. Read about his journey and expectations for the upcoming season.

19-Nov-2024 01:29 PM

Read Full Article

Ken Roczen Rejoins Suzuki and H.E.P. Motorsports for 2025 SMX Season

Ken Roczen is set to compete in the 2025 SuperMotocross World Championship with Suzuki and H.E.P. Motorsports aboard the RM-Z450. Read about his journey and expectations for the upcoming season.

19-Nov-2024 01:29 PM

Read Full Article

Which is Safer Volvo or Audi: Comprehensive Comparison of Safety Features

Explore the advanced safety technologies of Volvo and Audi. Compare features like Volvo's IntelliSafe and Audi's Pre Sense to discover which brand offers superior protection for drivers, passengers, and pedestrians.

19-Nov-2024 12:37 PM

Read Full Article

Which is Safer Volvo or Audi: Comprehensive Comparison of Safety Features

19-Nov-2024 12:37 PM

Read Full Article

Why Volvo Stands Out as the Safest Choice for Cars

Volvo’s commitment to safety is unmatched. Dive into their history, groundbreaking features, and real-life stories proving why they are the safest cars on the road.

19-Nov-2024 12:27 PM

Read Full Article

Why Volvo Stands Out as the Safest Choice for Cars

Volvo’s commitment to safety is unmatched. Dive into their history, groundbreaking features, and real-life stories proving why they are the safest cars on the road.

19-Nov-2024 12:27 PM

Read Full Article

Brixton Motorcycles Makes a dashing debut in the Indian Market

Brixton Motorcycles has officially launched in India with four neo-retro models: Crossfire 500X, Crossfire 500XC, Cromwell 1200, and Cromwell 1200X, priced from ₹4.74 lakh to ₹9.11 lakh.

19-Nov-2024 09:40 AM

Read Full Article

Brixton Motorcycles Makes a dashing debut in the Indian Market

Brixton Motorcycles has officially launched in India with four neo-retro models: Crossfire 500X, Crossfire 500XC, Cromwell 1200, and Cromwell 1200X, priced from ₹4.74 lakh to ₹9.11 lakh.

19-Nov-2024 09:40 AM

Read Full Article

Supreme Court criticises CAQM & orders tougher air pollution Rules for Delhi-NCR

The Supreme Court has criticized the CAQM for its delayed response to Delhi-NCR's worsening air quality. Despite the AQI surpassing the "severe-plus" threshold, the commission failed to implement timely measures under the Graded Response Action Plan.

19-Nov-2024 05:40 AM

Read Full Article

Supreme Court criticises CAQM & orders tougher air pollution Rules for Delhi-NCR

19-Nov-2024 05:40 AM

Read Full Article

Honda Activa Electric Teaser Unveils Advanced Digital Instrument Cluster with Exciting Features

Honda teases the Activa Electric, showcasing advanced digital displays with navigation, music control, and dual riding modes. Offering a 104 km range and possible swappable battery technology, it’s set to redefine electric commuting.

18-Nov-2024 01:47 PM

Read Full Article

Honda Activa Electric Teaser Unveils Advanced Digital Instrument Cluster with Exciting Features

18-Nov-2024 01:47 PM

Read Full Article