Debt financing
Electric scooter maker Ather Energy to raise Rs.260-Cr from InnoVen, Stride Ventures
Bengaluru-based electric two wheeler maker Ather Energy is to raise INR 60 crore (around USD 7.1 million) via non-convertible debentures (NCDs) from InnoVen Capital. Ather will issue 6,000 Series D1 Debentures with face value of INR 1,00,000 per debenture to InnoVen Capital.The company will also raise INR 200 crore from Stride Ventures by issuing up to 20,000 NCDs.Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather Energy currently offers two e-scooters – Ather 450X and Ather 450S.
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