Now Reading: Hero MotoCorp buys additional 3% stake in Ather for Rs 1,758 crore
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Hero MotoCorp buys additional 3% stake in Ather for Rs 1,758 crore
Hero MotoCorp buys additional 3% stake in Ather for Rs 1,758 crore
Hero MotoCorp has bought an additional 1.18 crore equity shares of Ather Energy in an open-market transaction for Rs 1,758 crore. The Government of Singapore offloaded the shares in a block deal…
Hero MotoCorp has bought an additional 1.18 crore equity shares of Ather Energy in an open-market transaction for Rs 1,758 crore. The Government of Singapore offloaded the shares in a block deal at Rs 1,480 each, and Hero lapped them up.
Post the deal, Hero's total stake in Ather has risen to about 32.8% from 29.48% at the end of June. The investment comes a month after Hero announced a separate Rs 1,000 crore infusion into the electric two-wheeler maker.
Ather Energy narrowed its consolidated net loss by 71% to Rs 51.1 crore in Q1 FY27 from Rs 178.2 crore a year earlier, while operating revenue surged 89% to Rs 1,216.9 crore. Shares of Ather hit a 52-week high of Rs 1,629.15 on the BSE following the news.
Indian Opinion Analysis
Hero MotoCorp is deepening its bet on Ather just as the EV maker prepares for a likely IPO. Under SEBI rules, a company that files a draft red herring prospectus must hold at least 25% public shareholding within three years of listing. Hero's stake is now well above that threshold, giving it significant influence. The real test will be whether Ather can sustain its growth and narrowing losses against rivals like Ola Electric, which has also seen volatile stock performance. Watch for Ather's next quarterly results due in November to see if the narrowing loss trend holds.
Source: inc42.com
This brief was synthesised by AI from the source linked above.
