Overview
- An NIIF termsheet offered nearly 89 lakh Ather shares, or 2.34% equity, at Rs 620 each, a 1.4% discount, with HSBC Securities and Axis Capital as arrangers.
- NSE data on Thursday showed about 87,02,119 shares changing hands in a block at Rs 622.35, valuing the trade near Rs 542 crore, with buyer and seller names not disclosed.
- Ather’s stock rebounded as much as 6–7% intraday to Rs 659.90 during heavy volumes after the block window activity.
- NIIF held 4.67% of Ather at end-September, and an affiliate, India Japan Fund, owns 5.91%, so the sale would reduce NIIF’s stake and increase tradable supply.
- The stake activity follows Tiger Global’s recent full exit from Ather, as the company reports a narrower Q2 net loss of about Rs 154 crore, 54% revenue growth to roughly Rs 900 crore, and October registrations up 46% to 26,713.