Hero MotoCorp stake in electric scooter firm Ather Energy capped at 40%

Nikhil Kamath, founder of online stock trading platform Zerodha, who has also taken a stake in Ather, is believed to be willing to bet more in the company. But existing investors are not selling right

The shareholding of Hero MotoCorp has been capped at 40 per cent in the electric scooter company Ather Energy, which the former has already achieved through the recent rights issue of Rs 900 crore. 

Any subsequent increase would require a green signal from the promoters led by Tarun Mehta, who is also the company’s chief executive officer (CEO), it is learnt.
 

The cap has been incorporated in a private agreement signed between the two companies. This allays concerns raised by some stakeholders that Hero MotoCorp, led by Pawan Munjal, whose own foray into electric scooters has not taken off, may increase