Ather Energy secures Rs 1,200 Cr from Hero MotoCorp, IJF, and founders

Electric two-wheeler manufacturer Ather Energy has approved a preferential fund raise of up to Rs 1,200 crore, bringing in fresh capital from existing backers Hero MotoCorp, the India-Japan Fund and the company’s founders. The Bengaluru-based company will issue equity shares worth about Rs 200 crore to the India-Japan Fund, which is managed by the National Investment and Infrastructure Fund (NIIF), while Hero MotoCorp will invest Rs 960 crore through convertible warrants.