The automaker on Monday said it is investing 550 crore in the Bengaluru based Ather, Hero MotoCorp said in a stock exchange filing. Hero MotoCorp already owns about 33.1% stake in Ather, which is raising capital through a rights issue.
VCCircle reported previously about Ather's plans to raise approximately $250 million in a primary infusion, with a significant secondary component at a valuation of about $1.3 billion. The capital was to support its expansion plans, including its manufacturing capacity for both battery and two-wheeler vehicle lines, besides new product research and development.
National Infrastructure Investment Fund (NIIF), one of the existing investors in the company, is likely to participate in the round.
Bu hikaye Mint Mumbai dergisinin September 06, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin September 06, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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