New Delhi, July 15, 2026: Electric two-wheeler maker Ather Energy Ltd on Wednesday said its board has approved the raising of Rs 1,200 crore from existing investors, including Hero MotoCorp and India-Japan Fund.
Board Approves Fund Raise
The board, at its meeting held on Wednesday, approved the raising of funds aggregating up to Rs 1,200 crore through the issuance of equity shares to India-Japan Fund, and warrants to Hero MotoCorp Ltd, and Ather promoters Tarun Sanjay Mehta and Swapnil Babanlal Jain, the company said in a regulatory filing.
Under the fund-raising programme, the company will mobilise Rs 960 crore from Hero MotoCorp, classified as a promoter, through the issuance of 76,19,047 warrants, each convertible into one equity share having a face value of Re 1 each at an issue price of Rs 1,260 per warrant, the company said.
Post the preferential issue, Hero MotoCorp's holding in Ather Energy will increase to 30.68% from 29.48%, it added.
India Japan Fund Investment
As part of the fund raise, 16,26,016 fully paid-up equity shares having a face value of Re 1 each at an issue price of Rs 1,230 each, including a premium of Rs 1,229 each, will be issued to India-Japan Fund, in which the Government of India and Japan Bank of International Cooperation are anchor investors, totalling nearly Rs 200 crore.
The holding of India-Japan Fund in Ather Energy will increase to 6.02% from 5.75% post the preferential issue, the filing said.
Promoters Mehta and Jain will each be issued 1,58,730 warrants at an issue price of Rs 1,230 per warrant for Rs 20 crore each. Their respective holdings in the company will reduce marginally to 4.85% each from 4.93% after the preferential allotment.
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Funds To Support Expansion
Proceeds from the overall fund raise will go towards research and development, marketing, debt repayment, and general corporate purposes, including the ongoing 'Factory 3.0 Project' in Chhatrapati Sambhajinagar, Maharashtra, which is expected to take Ather's installed capacity to 1.42 million units annually.
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