Hero MotoCorp is set to increase its stake in Ather Energy, with the company approving an investment of up to Rs 1,758 crore to buy additional shares from an existing shareholder. According to a regulatory filing by Hero MotoCorp, the transaction will take Hero's holding in Ather from 29.88 per cent to around 32.8 per cent on a fully diluted basis.
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Hero's Committee of Directors approved the purchase on August 27. The transaction is expected to be completed by September 3 and will be funded entirely through cash. No government or regulatory approvals are required for the deal.
Hero MotoCorp has been an investor in Ather for several years and is already the company's largest shareholder. As of August 25, Hero held a 29.88 per cent stake in Ather on a fully diluted basis. The latest purchase will increase that holding to up to around 32.8 per cent.
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This comes shortly after Hero announced plans to invest up to Rs 1,000 crore in Ather through a preferential issue. Ather subsequently allotted convertible warrants worth Rs 959.99 crore to Hero as part of that investment.
Ather has been growing its business at a steady pace over the past few years. Its turnover stood at Rs 1,753.8 crore in the financial year ended March 2024, rising to Rs 2,255 crore in FY2025. In FY2026, turnover increased further to Rs 3,671.76 crore.
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The company's current product range includes multiple models under the 450 series and Rizta. Looking ahead, Ather is all set to unveil the Konarc at its Community Day tomorrow. It will be the first Ather model based on the company's new EL platform and will sit alongside the Rizta in the lineup.
Hero MotoCorp also has its own electric two-wheeler business under the Vida brand, but its association with Ather goes back well before it launched its own EVs. Hero first invested Rs 205 crore in Ather Energy in 2016 and has since taken part in almost every major funding round raised by the electric two-wheeler maker.
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