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

Ather Energy Ltd's Board of Directors has approved a fundraise of up to INR 1,200 Crores through a preferential issue. The funds will be raised by issuing equity shares and convertible warrants to existing investors and promoters. India-Japan Fund will subscribe to equity shares, while Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain will subscribe to convertible warrants. The issue is subject to regulatory and shareholder approvals. The company also announced an upcoming EGM to seek member approval for this preferential issue.