Elpro International Acquires Equity Shares of Ather Energy Limited for INR 20.01 Crores

Elpro International Limited has acquired equity shares of Ather Energy Limited, a pioneering EV company committed to driving the electric mobility space in India. The acquisition was made for a consideration of INR 20.01 Crores. Ather Energy Limited, incorporated in 2013, has a standalone turnover of INR 2,255.00 Crores in FY 2024-25. The acquisition is not a related party transaction and does not involve the promoter/promoter group/group companies. The objects and effects of the acquisition include investment purposes and the acquisition of a significant stake in the target entity, which operates in the 2/3 Wheelers industry. The acquisition is subject to certain governmental or regulatory approvals and is expected to be completed in the near future.