NIIF Divests Stake in Ather Energy: Major Market Movement

The National Investment And Infrastructure Fund (NIIF) divested a nearly 3% stake in Ather Energy, amounting to Rs 541 crore. The deal, done via open market transactions, reduces NIIF's holding from 4.67% to 2.39%. Ather Energy posted a reduced net loss, driven by increased revenue.

The National Investment And Infrastructure Fund (NIIF) divested a significant stake in Ather Energy, an electric two-wheeler manufacturer, on Thursday. This move was executed through open market transactions and totaled Rs 541 crore.

According to data from the NSE, NIIF, via its affiliate National Investment and Infrastructure Fund-II, sold over 87 lakh equity shares representing a 2.28% stake in the Bengaluru-based company, executed at an average price of Rs 622.35 per share.

The transaction has decreased NIIF's holding in Ather Energy to 2.39%, down from the previous 4.67%. Meanwhile, Ather Energy reported a narrowing net loss backed by higher revenue, reflecting a positive trend in their financial performance.

(With inputs from agencies.)