Investment Firm Tiger Global Management Exits Ather Energy By Selling Entire 5.09% Stake For ₹1,204 Crore

New Delhi: Investment firm Tiger Global Management on Thursday exited Ather Energy by selling its entire 5.09 per cent stake in the electric two-wheeler maker for Rs 1,204 crore through open market transactions.US-based Tiger Global Management, through its affiliate Internet Fund III Pte, offloaded a little over 1.93 crore equity shares, or 5.09 per cent stake, in Ather Energy, as per the bulk deal data available on the BSE and National Stock Exchange (NSE).

The shares were sold in the price range of Rs 620.45-623.56 apiece, taking the combined transaction value to Rs 1,204.39 crore.Details of the buyers of Ather Energy's shares could not be ascertained on the BSE and NSE.At the end of the September quarter data, promoters held a 41.22 per cent stake in the company compared to 42.09 per cent in the June quarter.

Shares of Ather Energy declined 4.97 per cent to close at Rs 634 apiece on the NSE, while the scrip of the company ended 4.93 per cent lower at Rs 634.65 per piece on the BSE. 

Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.