Hero MotoCorp has received approval for purchase of additional 2.2% shares of Ather Energy, an associate company, from an existing shareholder. Currently, the Company is also an existing shareholder in Ather Energy and this transaction entails purchase of additional shares of Ather Energy from another existing shareholder. The cost of acquisition is up to Rs 124 crore. The said acquisition will be completed by July 31, 2024.
The Board of Directors of Hero MotoCorp at its meeting held on June 06, 2024 has approved the same.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
