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Hero MotoCorp to Buy Additional Stake in Ather Energy for INR 1,758 Crore

Ather Energy logoAther Energy
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Hero MotoCorp logoHero MotoCorp
Sig2.70Sen+2.63Env0.00Soc0.00Gov+0.67

Cyril Amarchand Mangaldas advised Hero MotoCorp Limited on its all-cash secondary purchase of about INR 1,758 crore worth of Ather Energy shares from an existing shareholder. The deal would raise Hero’s stake to 32.8% on a fully diluted basis from 29.88% currently and is expected to close by September 3, with proceeds going to the seller rather than funding Ather.

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