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Ather Energy, a Bengaluru-based company, stated in a filing with the Ministry of Corporate Affairs that it secured Rs 60 crore in debt funding from InnoVen Capital India Fund through its trustee, Vistra ITCL.
In a private placement, the electric vehicle company will distribute 6,000 Series D1 unlisted, secured, redeemable, non-convertible debentures with a face value of Rs 1 lakh.
In June of this year, Ather transitioned from a private company to a public limited company with the intention of filing for its initial public offering (IPO).
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Additionally, Ather collected Rs 286 crore in debt and equity from Stride Ventures, a venture debt firm, and its founders. In addition, the two-wheeler manufacturer is backed by GIC Singapore and Tiger Global.
In June, Hero MotoCorp, a significant investor in the company, acquired an additional 2.2% stake in the venture for Rs 124 crore.
About Ather Energy
Ather Energy was started in 2013 by Tarun Mehta and Swapnil Jain, two engineering graduates straight out of college with the audacity to dream and challenge the well-established Internal Combustion Engine (ICE) and replace it with an electric drive. They built India’s first smart and connected electric scooters, the Ather 450 product line because we believe that’s where the future of personal mobility is headed.
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