15 Jul 2026
Ather Energy's board approved raising up to Rs 1,200 crore through a preferential issue.
The India-Japan Fund, a category II AIF and existing investor, takes 16,26,016 equity shares at Rs 1,230 each for Rs 200 crore. Hero MotoCorp, which is classified as a promoter and already holds 29.48 percent, subscribes to 76,19,047 convertible warrants at Rs 1,260 each for Rs 960 crore, with founders Tarun Mehta and Swapnil Jain taking the balance of the 79,36,507 warrants. Hero's money arrives as warrants, which carry 25 percent upfront and the rest on conversion, so the cash is staged rather than paid in full today. The issue is subject to shareholder and regulatory approval.