Hero MotoCorp Limited disclosed the outcome of its Committee of Directors (COD) meeting held on July 14, 2026. The COD approved an additional investment of up to ₹1,000 crore (Rupees one thousand crore only) in Ather Energy Limited, an existing associate company.

Nature of Investment

The investment will be made through subscription of equity shares or other eligible securities representing equity shares or convertible into/exchangeable for equity shares. This includes compulsorily convertible preference shares and warrants ("Securities") to be issued by Ather Energy on a preferential allotment basis.

Conditions and Approvals

The subscription is subject to receipt of necessary approvals, including from the Board of Directors and Shareholders of Ather Energy Limited. The COD also approved execution of relevant documents, including a binding expression of interest, to facilitate this investment.

Target Company Details

  • Name: Ather Energy Limited (Ather)
  • Business: Designing, manufacturing, selling and servicing of electric two-wheelers; owns charging infrastructure; engaged in storage, distribution and management of electric power (including energy in batteries)
  • Turnover: ₹3,671.76 crore for year ended March 31, 2026 (₹1,753.8 crore in FY24; ₹2,255 crore in FY25)
  • Incorporation: October 21, 2013
  • Listing Status: Listed on BSE Limited and National Stock Exchange of India Limited
  • Geographic Presence: Wide presence across India

Transaction Details

  • Transaction Type: Related party transaction (Ather is an associate company)
  • Arm's Length Basis: The transaction is proposed to be made on an arm's length basis
  • Promoter Interest: No promoter/promoter group/group companies of Hero MotoCorp have any interest in Ather Energy
  • Consideration: Cash consideration up to ₹1,000 crore in aggregate
  • Completion Timeline: Within 15 days from receipt of the last necessary approval required by Ather

Current and Post-Investment Shareholding

Hero MotoCorp Limited held 29.48% (on a fully diluted basis) of Ather Energy's paid-up share capital as of June 30, 2026. The final increase/decrease in shareholding post-investment will depend on the pricing of the preferential issue and any further issuance of securities approved by Ather's Board.