Hero MotoCorp Limited (BSE:500182) agreed to acquire an additional 2.20% stake in Ather Energy Private Limited for INR 1.2 billion on June 6, 2024. A cash consideration of INR 1.24 billion will be paid by Hero MotoCorp Limited. Upon completion, Hero MotoCorp Limited will own 35.30% stake in Ather Energy Private Limited.

For the period ending March 31, 2024, Ather Energy Private Limited reported total revenue of INR 17.54 billion.

The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is July 31, 2024.