Ather Energy to Raise ₹1,200 Cr via Preferential Issue

Ather Energy Ltd announced its Board of Directors has approved a preferential issue to raise up to INR 1,200 crores. The funds will be raised through the issuance of equity shares and convertible warrants. India-Japan Fund will invest approximately INR 200 crores in equity shares. Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain will invest in convertible warrants, with Hero MotoCorp contributing approximately INR 960 crores. The issuance is subject to regulatory and shareholder approvals. The company also announced an Extra-Ordinary General Meeting (EGM) to seek member approval for this fundraising.