Ather Energy Secures Rs 550 Cr Investment from Hero MotoCorp via Right Issue

  • Hero MotoCorp, an existing investor, to contribute additional Rs 550 Cr via Series E2 compulsory convertible preference shares.
  • Ather Energy was headed towards unicorn status in EV sector, after being valued at $750 million during a $50 million funding round last year.
  • Despite operational revenue surging to Rs 1806.1 crore in FY23 for Ather, its losses also reportedly rose by 151.2% to Rs 864.5 crore.
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