Private Equity

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Hero Moto Corp to acquire 2% more in electric scooter maker Ather for Rs.124-Cr

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Hero MotoCorp will increase its stake in Bengaluru-based electric two-wheeler manufacturer Ather Energy, purchasing an additional 2.2% stake for around INR 124 crore. The investment is being made by purchasing additional shares from an existing shareholder of Ather Energy?. This follows an earlier share purchase by the leading two-wheeler brand in Ather for an additional 3% stake, totalling INR 140 crore. Ather also has Tiger Global and GIC of Singapore on its captable.Recently, Ather raised INR 286 crore through a combination of debt and equity, with venture debt firm Stride Ventures investing INR 200 crore through non-convertible debentures. Earlier, Ather raised INR 900 crore from existing stakeholders Hero MotoCorp and GIC through a rights issue.