PE Fund Investments
Electric scooter maker Ather Energy raises Rs.550-Cr more from Hero MotoCorp
Bengaluru-based electric scooter maker Ather Energy is to raise INR 550 crore from motorcycle manufacturer Hero MotoCorp, via a right issue. Hero, which held a 33.1% in Ather prior to the latest allotment, will make the new cash investment in return for Series E2 compulsory convertible preference shares. Ather had reported revenue from operations of INR 1,806.1 crore for FY23, up from INR 413.8 crore in FY22.
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