Hero MotoCorp Buys Rs 1,758 Crore Ather Energy Stake in Block Deal
Key Takeaways
- •Hero MotoCorp acquired 1.18 crore Ather Energy shares for Rs 1,758 crore in a block deal.
- •The Government of Singapore was the seller in the transaction.
- •Hero MotoCorp's stake in Ather Energy now stands at approximately 32.8 percent, making it the largest shareholder.
- •Ather Energy is a Bengaluru-based electric two-wheeler maker that listed on the stock exchanges in 2024.
- •The acquisition deepens Hero MotoCorp's presence in India's electric segment amid competition from Bajaj Auto and TVS Motor Company.
Hero MotoCorp has acquired 1.18 crore shares of Ather Energy for Rs 1,758 crore in a block deal, significantly deepening its existing holding in the electric two-wheeler maker.
The seller in the transaction was the Government of Singapore. Following the purchase, Hero MotoCorp's stake in Ather Energy now stands at approximately 32.8 percent, making it the largest shareholder in the Bengaluru-based company, which listed on the stock exchanges in 2024.
The acquisition strengthens Hero MotoCorp's position in India's growing electric mobility market. The move comes as the country's largest two-wheeler maker, whose core business remains petrol-powered motorcycles and scooters, looks to expand its presence in the electric segment, where competition has intensified with rivals such as Bajaj Auto and TVS Motor Company also scaling up their electric offerings.
Source: Economic Times Markets
