Ather Energy promoters Tarun Mehta, Swapnil Jain set to drive stake 6-7% up

Fresh equity infusions before the company takes the IPO route

The promoter-founders of Ather Energy -- Tarun Mehta and Swapnil Jain -- are set to increase their stake in the electric two-wheeler startup by 6-7 per cent through fresh equity infusions.

The process, involving different tranches of equity infusions, is expected to be completed in the coming weeks. Currently, the promoters hold a 10-11 per cent stake in the company.

Last Friday, Hero Motocorp, Ather Energy’s largest investor, in a regulatory announcement stated that it was acquiring an additional 2.2 per cent stake from an existing shareholder for Rs 124 crore. The transaction is slated for completion by July 31.