Hero MotoCorp has received approval for investment of up to Rs 550 crore, in the Rights issue of Ather Energy. The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature. This is not an acquisition, but subscription by Hero MotoCorp, in the Rights issue of Ather. The Company is an existing shareholder of Ather. The Board of Directors of the Company at its meeting held on September 4, 2023 has approved the same.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
