Ather approves preferential issue of up to ₹1,200 crore
Hero MotoCorp, India-Japan Fund and Ather’s founders are the proposed subscribers to an expanded equity and warrants financing.
Electric-scooter maker Ather Energy approved an expanded preferential issue of up to ₹1,200 crore on July 15, 2026, combining equity shares with convertible warrants.
The proposed subscriptions comprise ₹960 crore from Hero MotoCorp, ₹200 crore from India-Japan Fund and ₹20 crore each from founders Tarun Mehta and Swapnil Jain.
India-Japan Fund is to receive equity shares, while Hero MotoCorp and the founders are to receive warrants. The board approval was subject to shareholder and applicable regulatory approvals.
Ather said the proceeds would support research and development, marketing, debt repayment and Factory 3.0, its manufacturing expansion in Maharashtra.
Use of funds
Research and development
Marketing
Debt repayment
Factory 3.0 manufacturing expansion
General corporate purposes