Tiger Global Bids Adieu to Ather Energy with Rs 1,204 Crore Stake Sale

Investment firm Tiger Global Management has sold its entire 5.09% stake in Ather Energy for Rs 1,204 crore. This stake was sold through open market transactions at a price range of Rs 620.45-623.56 per share. Details of buyers remain undisclosed, and Ather's stock faced a decline post-transaction.

On Thursday, Tiger Global Management, an investment firm based in the US, exited its position in Ather Energy by selling its entire 5.09% stake in the electric two-wheeler manufacturer.

The shares, totaling over 1.93 crore and previously held by the firm's affiliate Internet Fund III Pte, were sold on both the BSE and NSE for a combined value of Rs 1,204.39 crore, within the price band of Rs 620.45 to Rs 623.56 per share.

The buyers of these shares have yet to be identified, but the sale led to a drop in Ather Energy's stock, which closed nearly 5% lower on both exchanges.

(With inputs from agencies.)