Sachin Bansal Exits Ather Energy, Sells Stake to Hero MotoCorp and Nikhil Kamath

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Summary

  • Flipkart co-founder Sachin Bansal sold his remaining 7.5% stake in Ather Energy.
  • Hero MotoCorp acquired 2.2% and Zerodha co-founder Nikhil Kamath acquired 5.3% of the stake.
  • Bansal was an early investor in Ather, having invested nearly INR 400 crore since 2014.
  • Sachin Bansal has exited Ather Energy, an Indian electric two-wheeler manufacturer, by selling his remaining stake. 
  • This comes after Hero MotoCorp recently acquired an additional 2.2% stake in Ather.


Details of the Stake Sal

  • Economic Times reported that Bansal sold his entire 7.5% stake.
  • Hero MotoCorp acquired 2.2% of the stake for INR 124 crore.
  • Nikhil Kamath, co-founder of Zerodha, purchased the remaining 5.3% stake, estimated to be worth around INR 282 crore based on Hero MotoCorp's acquisition valuation.
  • Bansal's Investment History in Ather

Bansal was among the first investors in Ather, investing nearly INR 400 crore since 2014.

Ather's Financial Performance

Ather's net loss widened over 150% YoY to INR 864.5 crore in FY23.
The company's operating revenue grew 4.3x YoY to INR 1,783.6 crore in FY23.
Ather recently raised INR 286.5 crore through a mix of equity and debt.

Disclaimer

This blog summarizes information from news sources and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.

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