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CAM advised Hero MotoCorp Limited in connection with acquisition of additional stake of ~INR 1,758 crore in Ather Energy Limited, a listed company, by way of a secondary purchase.
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 issue was priced at a 2.76% premium to the floor price determined in accordance with applicable law and saw participation from marquee institutional investors, including ADIA and affiliates of mutual funds and insurance companies such as ICICI Prudential Life Insurance, HDFC Life Insurance, LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund and HSBC Mutual Fund, among others.
JSA acted as counsel to Hero MotoCorp Limited (“HMCL”), the corporate promoter of Ather Energy Limited