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Ather Energy Seeks Up to INR12 Billion via Preferential Issue

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Ather Energy (NSE:ATHERENERG, BSE:544397) approved a preferential issue to raise up to 12 billion rupees, according to an exchange filing on Wednesday.

The electric scooter maker will issue 1.6 million equity shares to the India-Japan Fund for about 2 billion rupees.

It will also issue 7.9 million convertible warrants to Hero MotoCorp and promoters Tarun Mehta and Swapnil Jain for up to 10 billion rupees, subject to shareholder and regulatory approvals.

The equity shares will be issued at 1,230 rupees apiece, while the warrants are priced at 1,260 rupees each.

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