Ather Energy raises Rs 1,200 Cr in preferential issue led by Hero MotoCorp
EV two-wheeler maker Ather approved a Rs 1,200 crore preferential issue, with Hero MotoCorp putting in Rs 960 crore, India-Japan Fund Rs 200 crore and co-founders the rest. Shares priced at Rs 1,230; the round lifts Hero's stake to 30.68% and IJF's to 6.02% at a Rs 49,792 crore market cap.
What happened
EV two-wheeler maker Ather Energy approved a Rs 1,200 crore preferential issue, with Hero MotoCorp investing Rs 960 crore, India-Japan Fund Rs 200 crore, and
Key facts
- Rs 1,200 crore total
- Hero MotoCorp Rs 960 crore
- IJF Rs 200 crore
- Rs 1,230 per share
- 16.26 lakh equity shares
- 79.36 lakh warrants
- warrants Rs 1,260 each
- Hero stake 30.68%
- IJF 6.02%
- market cap Rs 49,792 crore
Why this matters
Hero's Rs 960 Cr commitment moving toward a 30%+ position edges Ather closer to becoming a controlled strategic asset within Hero's EV ambitions.
What to watch
- Hero stake movement toward or beyond 30-33% (open-offer/control implications)
- Ather monthly retail registration (VAHAN) trend vs Ola and TVS iQube
- Gross margin and cash-burn trajectory in next quarterly results
- FAME-III/PM E-DRIVE subsidy policy changes and battery cell import duties
- Share price behaviour relative to Rs 1,230 preferential issue price
- Ather to announce capacity ramp at Maharashtra plant and new Rizta/scooter variants funded by proceeds
- Hero MotoCorp to signal deeper technology and sourcing integration with Ather in upcoming earnings calls
- India-Japan Fund (via DBJ/JBIC linkage) may seek supply-chain or cell-localization tie-ups
- Competitors (Ola Electric, TVS, Bajaj) likely to counter with pricing, financing offers, or new EV launches
Also reported by
- Entrackr — Same time