Elpro International Acquires Stake in Ather Energy for INR 20 Crores

Elpro International Ltd has announced the acquisition of equity shares in Ather Energy Limited. The transaction, disclosed under Regulation 30 of the SEBI Listing Regulations, involves a cash consideration of INR 20 Crores. Elpro has acquired 2,98,819 equity shares in Ather Energy, marking its initial investment in the electric vehicle sector.

Ather Energy, incorporated on October 21, 2013, operates in the 2/3 wheelers industry. The company reported a standalone turnover of INR 2,305 Crores for the financial year 2024-25. The acquisition by Elpro does not constitute a related party transaction, and there is no involvement of the promoter or promoter group in this transaction. The acquisition is conducted at arm’s length, with no governmental or regulatory approvals required.

The acquisition is intended for investment purposes, aligning with Elpro’s strategic interests. Ather Energy has been recognized for its contributions to the electric mobility space in India, leveraging engineering capabilities to develop products and experiences across the EV ecosystem. The company has shown consistent growth, with revenues from operations of INR 2,255 Crores in FY 2024-25, up from INR 1,753 Crores in FY 2023-24.

Elpro International Ltd is engaged in various business activities, including manufacturing and real estate. The company focuses on strategic investments to enhance its portfolio and expand its market presence. Elpro continues to explore opportunities that align with its business objectives and long-term growth strategy.