Hero MotoCorp has finalized a significant investment in Ather Energy Limited, an associate company, by subscribing to convertible warrants. The total subscription amount is approximately INR 960 crore. A partial payment of 25% (INR 240 crore) has already been made, with the remaining 75% payable upon exercise of the warrants. This move underscores Hero MotoCorp’s growing commitment to the electric vehicle ecosystem.
Hero MotoCorp’s Strategic Investment in Ather Energy
Hero MotoCorp Limited has officially announced an investment in Ather Energy Limited, a key player in the electric vehicle space and an associate company. This investment is being made through a preferential issue, with Hero MotoCorp subscribing to 76,19,047 convertible warrants. Each warrant is convertible into one equity share of Ather Energy.
Subscription Details and Financial Commitment
The subscription price for each warrant has been set at INR 1,260, leading to an aggregate subscription amount of approximately INR 959,99,99,220 (INR 960 crore). Today, Hero MotoCorp has paid INR 239,99,99,805 (INR 240 crore), which represents 25% of the total issue price. The remaining 75% of the warrant value will be payable by Hero MotoCorp at its discretion, upon exercising the warrants to convert them into equity shares of Ather.
This strategic allocation of capital into Ather Energy reflects Hero MotoCorp’s deepening involvement in the electric mobility sector and its commitment to future growth avenues.
Source: BSE
