Hero MotoCorp board approves Rs 550 crore additional investment in Ather Energy

Hero motocorp.

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Hero MotoCorp on Monday said it will invest an additional Rs 550 crore in Ather Energy.

The company's board, at its meeting held on September 4, 2023, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing.

The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, it added.

Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1 per cent, the country's largest two-wheeler said.