Ather Energy to Raise ₹1,200 Cr to Fund Next Growth Phase
Electric two-wheeler maker Ather Energy has approved a funding round of up to ₹1,200 Cr (approx. $144 million USD) to support the company's next phase of growth.
Electric two-wheeler manufacturer Ather Energy has secured board approval for a funding round of up to ₹1,200 crore (approximately $144 million USD). The company plans to raise capital through a combination of equity and convertible warrants to fuel expansion and new product development.
The largest investment comes from promoter Hero MotoCorp, committing ₹959.99 crore (approx. $115 million USD) via warrants. Co-founders Tarun Mehta and Swapnil Jain are also participating with personal investments.
This funding round is a significant step for Ather Energy's growth strategy. The capital infusion is earmarked for research and development, the launch of new products, and the expansion of manufacturing capacity, aligning with previous announcements of plans to raise up to ₹2,500 crore for similar objectives.
Despite global economic uncertainties, the electric vehicle market in India shows continued promise. Ather Energy is positioned to benefit from government incentives and increasing consumer interest in electric mobility solutions. Following the full conversion of warrants, Hero MotoCorp's stake in Ather Energy is expected to see a slight increase.