More Stories

Informist, Tuesday, Aug. 25, 2026

 

NEW DELHI – Ather Energy Ltd. Tuesday said its board of directors had approved the allotment of 1.63 million fully paid-up equity shares and 7.94 million convertible warrants under its INR-12-billion preferential issue. The company allotted the equity shares to India-Japan fund, represented by the National Investment and Infrastructure Fund Ltd., at an issue price of INR 1,230 apiece, aggregating up to INR 19.99 billion subscription amount, the company said in an exchange filing. 

 

The electric two-wheeler maker has allotted 7.62 million warrants to Hero MotoCorp Ltd. at an issue price of INR 1,260 per warrant aggregating up to INR 9.99 billion, as per the exchange filing. The company has allotted 158,730 warrants to its Co-Founder and Chief Executive Officer Tarun Sanjay Mehta at an issue price of INR 1,260 per warrant aggregating up to INR 199.99 million subscription amount, as per the exchange filing. 

 

The company has allotted 158,730 warrants to its Co-Founder and Chief Technology Officer Swapnil Babanlal Jain at an issue price of INR 1,260 per warrant, aggregating up to INR 199.99 million subscription amount, according to the exchange filing. 

 

Following the allotment of securities, Hero MotoCorp's stake in Ather Energy will increase to 29.88% from 28.69% on a fully diluted basis. Similarly, India-Japan Fund's holding will increase to 5.87% from 5.60% on a fully diluted basis, as per the exchange filing. Mehta's stake will decline to 4.73% from 4.80%, and Jain's stake will decline to 4.73% from 4.80%.  

 

"Pursuant to the terms of securities as approved by the board and shareholders, only 25% of the warrant issue price were to be paid at the time of subscription of the warrants, and 75% of the warrant issue price shall be payable by the warrant holder at the time of conversion of each warrant, which may be converted at the option of the warrant holder, within a period of 18 months from the date of allotment of such warrants, in one or more tranches," the exchange filing said. 

 

Consequent to the said allotment, the paid-up equity share capital of the company will increase to INR 396.119 million from INR 394.5 million, as per the exchange filing. "The aforesaid equity shares shall be listed on the NSE and BSE, upon receipt of the relevant listing approvals. The warrants shall remain unlisted, and the equity shares allotted on conversion of the warrants shall be listed on the NSE and BSE, upon receipt of the listing approvals that will be obtained at the relevant point in time," the company said. 

 

The company reported a net loss of INR 508.7 million on revenues of INR 12.17 billion. Tuesday, shares of the company closed nearly 1% lower at INR 1,439.40 on the National Stock Exchange. End

 

Reported by Astha Oriel

Edited by Deepshikha Bhardwaj

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.