Hero MotoCorp bought 1.18 crore shares of Ather Energy through a block deal on Friday, deepening its holding in the electric two-wheeler maker. The shares were bought at Rs 1,480 apiece, taking the total transaction value to about Rs 1,758 crore. The Government of Singapore sold the same number of shares in the block deal, according to exchange data.
The deal involved 1.18 crore shares of Ather Energy. The transaction came a day after Hero MotoCorp said it would invest up to Rs 1,758 crore to acquire additional shares in Ather Energy from an existing shareholder. Reuters reported that the purchase would raise Hero MotoCorp's stake in Ather to about 32.8% from 29.88% as of August 25.
Hero MotoCorp is already the largest shareholder in Ather Energy. The latest purchase strengthens its exposure to India’s electric two-wheeler market at a time when legacy two-wheeler companies are trying to protect market share against EV-first rivals.
Ather has been one of the key listed plays in India’s electric scooter market. Its IPO earlier gave public investors exposure to a pure-play electric two-wheeler maker backed by Hero MotoCorp, Singapore’s GIC, Tiger Global and other investors.
Ather’s stock has seen strong gains this year as investors bet on EV adoption, institutional buying and Hero MotoCorp’s continued support.
For Hero MotoCorp, Ather is a long-term EV platform rather than a short-term financial investment. The company’s own ICE two-wheeler business remains large, but the electric scooter market has become a key battleground as consumers shift gradually toward battery-powered mobility.
