Co-founder Sachin Bansal exits Ather Energy: Sachin sells his remaining 7.5% stake to Hero and Zerodha’s Nikhil Kamath

Flipkart co-founder Sachin Bansal has sold his remaining 7.5% stake in electric two-wheeler company Ather Energy. Now he has no stake left in Ather Energy Private Limited. According to the Economic Times report, Bansal has sold his stake to Hero MotoCorp and Zerodha co-founder Nikhil Kamath. Bansal was among the early investors for Ather Energy and has invested about Rs 400 crore in the company since 2014. Sachin sold 2.2% stake to Hero for Rs 124 crore The report said that Sachin Bansal has sold 2.2% stake to Hero MotoCorp for Rs 124 crore and the remaining stake to Nikhil Kamath. Hero MotoCorp announced on June 6 that it was buying an additional 2.2% stake in Ather Energy for Rs 124 crore. Hero currently has a 39.7% stake in Ather Energy Hero MotoCorp had told the stock exchanges that it is investing up to Rs 124 crore by buying additional shares from the existing shareholder of Ather Energy to acquire up to 2.2%. It is expected to be completed by July 31, 2024. Hero MotoCorp currently holds a 39.7% stake in Ather Energy. Ather earned a revenue of Rs 1,753 crore in FY 2024 Ather Energy has earned a consolidated revenue of Rs 1,753 crore in FY 2024. This is 1.7% less on an annual basis. Ather Energy has raised Rs 286 crore from debt and equity. A large part of this has come from venture debt and co-founders. The company is preparing to be listed on the stock markets in the year 2025. By April 2024, Ather Energy was one of the top-4 electric scooter manufacturers in India along with Ola Electric, TVS and Bajaj Auto. Ather Energy was incorporated in October 2013 Ather Energy was incorporated in October 2013. This company is engaged in the business of designing, manufacturing, selling and servicing electric two-wheelers. The company also has its own charging infrastructure.

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