Ather Will Raise INR 286.5 Crore in Equity and Debt, While the Cofounders Will Invest INR 86.5 Crore

Ather’s board authorized a plan to raise equity capital of INR 86.6 Cr from its founders, Tarun Mehta and Swapnil Jain, by issuing 74,148 Series F CCPS.

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Ather Will Raise INR 286.5 Crore in Equity and Debt, While the Cofounders Will Invest INR 86.5 Crore

Ather’s board authorized a plan to raise equity capital of INR 86.6 Cr from its founders, Tarun Mehta and Swapnil Jain, by issuing 74,148 Series F CCPS.

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Furthermore, the electric two-wheeler startup’s board approved raising INR 200 crore of debt capital from Stride Ventures by issuing up to 20,000 non-convertible debentures.

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In April, Ather, a prominent player in the Indian electric two-wheeler sector, registered 4,052 two-wheeler electric vehicles (EVs).

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Ather Energy, an electric vehicle (EV) startup, is planning to finance INR 286.5 crore in a mix of equity and debt.

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Additionally, the board of the electric two-wheeler firm approved raising INR 200 crore in debt funding from Stride Ventures by issuing up to 20,000 non-convertible debentures.

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The fundraising comes months after Hero MotoCorp announced that it would buy an additional 3% share in Ather for up to INR 140 crore ($16.8 million).

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