Liquidity Events
NIIF exits EV scooter maker Ather with Rs.521-Cr stake sale
National Investment and Infrastructure Fund (NIIF) has fully exited Ather Energy by selling its 1.92% stake for INR 520.7 Cr. The state-backed fund offloaded 73.3 Lakh shares at INR 710 each through open market transactions.Founded in 2013 by Swapnil Jain and Tarun Mehta, Ather Energy is an EV manufacturer with an annual manufacturing capacity of 4.2 Lakh scooters.
Between Mar 2015 and Aug 2024, Ather Energy had attracted about USD 647 M from NIIF, InnoVen Capital, Hero Motocorp, Stride Ventures, Edelweiss Private Equity, GIC, Navam Capital, Sachin Bansal, Tiger Global, & others.For FY25, Ather Energy had reported about INR 2255 Cr in Operating Income and about INR 812 Cr in Net Loss.
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