Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ELPROINTL · price
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Awaiting price reaction for this filing.
Elpro International Ltd has acquired 2,98,819 equity shares (fresh acquisition, no prior holding) of Ather Energy Limited for INR 20.01 Crores in cash, purely as an investment. Ather Energy is a listed Indian EV company in the 2/3 Wheeler segment with a standalone turnover of about Rs 2,305 Crores in FY25. The transaction is not a related party deal. Elpro's move signals a strategic investment in the electric mobility space, which is outside its main line of business.
This is an investment acquisition worth Rs 20.01 Cr, so the direct financial impact on Elpro is modest. However, it exposes Elpro shareholders to Ather Energy, a high-growth listed EV player, which could be viewed positively by the market as a value-accretive investment.