Hero MotoCorp to raise Ather Energy stake to 32.8% with Rs 1,758 Cr investment

Hero MotoCorp has acquired 1.19 crore Ather Energy shares from Government of Singapore, or GIC, at Rs 1,480 apiece on August 28 on the NSE. The bulk deal values the transaction at around Rs 1,758.24 crore. The purchase raises Hero MotoCorp’s holding in Ather from 29.88% to 32.8% on a fully diluted basis.

Ather is already an associate company of Hero MotoCorp and operates in the electric two-wheeler and charging infrastructure space. The larger holding signals Hero MotoCorp’s continued investment in Ather as the EV maker expands within India’s electric mobility market. Hero MotoCorp said the acquisition does not require any governmental or regulatory approvals.

Ather reported turnover of Rs 3,671.76 crore in FY26, up from Rs 2,255 crore in FY25 and Rs 1,753.8 crore in FY24. The company recently raised Rs 1,200 crore through a preferential issue, with Hero MotoCorp investing nearly Rs 960 crore and the India-Japan Fund investing Rs 200 crore. Co-founders Tarun Mehta and Swapnil Jain also invested Rs 20 crore each.

According to Vahan data cited in the report, Ather Energy retained the third position in July with 28,819 registrations and a 14.89% market share. The company recorded an 8.3% month-on-month decline, with 2,616 fewer registrations than in June. After the latest deal, Ather’s shares closed 8% higher at Rs 1,616.3, taking its market capitalization to Rs 63,762 crore, or around $6.7 billion.