Cyril Amarchand Mangaldas advised Hero MotoCorp Limited (“Hero MotoCorp”) in connection with the fund raise undertaken by Ather Energy Limited, a listed company (“Ather”). Hero MotoCorp is one of the promoters of Ather.
The fund raise by Ather composed of preferential issue of ~INR 1200 crore to its promoters (including an investment of ~INR 960 crore by Hero MotoCorp) and an institutional shareholder; and qualified institutional placement of ~INR 1,300 crore, aggregating to ~INR 2500 crore.
CAM’s role included advising and assisting Hero MotoCorp on the structuring and compliance with applicable legal and regulatory requirements in connection with the fund raise, including negotiation and finalization of documents and disclosures relating to the preferential issue; and also on the qualified institutional placement, in its capacity as the promoter of Ather.
The transaction was led by Ruetveij Pandya and Abhilasha Malpani, Partners.
Manan Lahoty, Partner – (Head – Capital Markets) and Abhiroop Lahiri, Partner; advised on the aspects pertaining to the qualified institutional placement.
The transaction team comprised of Anoushka Ishwar and Manjri Singh, Senior Associates, Aanchal Jain, Kiara Dsouza, Keerti Singh and Simran Srivastava, Associates.
