Hero MotoCorp currently holds 29.88% of Ather on a fully diluted basis. Following the purchase, its stake will increase to up to around 32.8%.
The transaction will be completed by 3 September 2026. Hero MotoCorp will pay cash consideration of up to Rs 1,758 crore for the additional shares.
The company said no government or regulatory approvals are required for the transaction. It also said the purchase does not fall under related party transactions.
Ather was incorporated in India on 21 October 2013. It is engaged in designing, manufacturing, selling and servicing electric two-wheelers. It also operates charging infrastructure and provides services related to storage, distribution and management of electric power, including battery energy. The company has a presence across the country.
Ather reported turnover of Rs 3,671.76 crore for FY26, up from Rs 2,255 crore in FY25 and Rs 1,753.8 crore in FY24.
On a consolidated basis, Ather's net loss narrowed to Rs 51.09 crore in Q1 FY27 from Rs 178.23 crore in Q1 FY26 and Rs 100.23 crore in Q4 FY26. Revenue from operations surged 88.8% YoY and 3.6% QoQ to Rs 1,216.92 crore in the quarter ended 30 June 2026.
Adjusted gross margin stood at Rs 282 crore, up 82.3% YoY, although the adjusted gross margin percentage moderated to 22% from 23% a year ago. The company reported positive EBITDA of Rs 9.45 crore in Q1 FY27 against an EBITDA loss of Rs 105.97 crore in Q1 FY26. EBITDA margin improved to 1% from a negative 16% last year.
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