Announced Wed, 15 Jul · 21:07 IST
Hero MotoCorp to invest about Rs 960 crore more in Ather Energy via warrants
HEROMOTOCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.7%1-day move
₹4880.00
prior close
₹4900.00
base price
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AI summary
Hero MotoCorp will invest up to Rs 1,000 crore in associate Ather Energy through convertible warrants. Ather's Board has approved allotting 76.19 lakh warrants at Rs 1,260 each, aggregating about Rs 960 crore on a preferential basis. Hero pays 25% upfront and 75% on conversion within 18 months. This raises Hero's stake in Ather from 29.48% to 30.68% on a fully diluted basis, deepening its bet on the EV two-wheeler segment.
Likely market impact
Strengthens Hero's strategic position in EVs through deeper stake in Ather. Initial cash outflow about Rs 240 crore. Positive for long-term growth narrative.