Ather Energy Raises INR 60 Cr Debt From InnoVen Capital

Ather Energy Raises INR 60 Cr Debt From InnoVen Capital

SUMMARY

Ather will issue 6,000 Series D1 Debentures with face value of INR 1,00,000 (One Lakh) per debenture to InnoVen Capital

This debt funding marks the third infusion in Ather in less than two months, following an infusion pegged at INR 286.5 Cr in a mix of equity and debt last month

Alongside this, Ather’s board also approved raising INR 200 Cr of debt funding from Stride Ventures by issuing up to 20,000 non-convertible debentures

Bengaluru-based two wheeler electric vehicle maker Ather Energy is set to raise INR 60 Cr (around $7.1 Mn) via non-convertible debentures (NCDs) from InnoVen Capital. 

As a part of this dept funding, Ather will issue 6,000 Series D1 Debentures with face value of INR 1,00,000 (One Lakh) per debenture to InnoVen Capital.

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