CosmicTaco

CCI Approves NIIF's Stake Increase in Ather Energy

CosmicTaco · 2024-09-09T13:34:10.106881+05:30

- The Competition Commission of India (CCI) has approved the National Investment and Infrastructure Fund's (NIIF) proposal to buy more shares in Ather Energy. - The deal was approved under the green channel route, a fast-track approval process by CCI. - The India-Japan Fund, managed by NIIF, aims to strengthen its position in the electric two-wheeler market and clean mobility solutions. - Ather Energy is preparing for its IPO, targeting a valuation of around $2.5 billion. - Despite growth, Ather remains a loss-making entity, with net losses widening to INR 1,059.7 Cr in FY24. Source: [Inc42](https://inc42.com/buzz/cci-greenlights-niifs-proposal-to-pick-up-additional-stake-in-ipo-bound-ather-energy/)

The Competition Commission of India (CCI) has approved the National Investment and Infrastructure Fund's (NIIF) proposal to buy more shares in Ather Energy.
The deal was approved under the green channel route, a fast-track approval process by CCI.
The India-Japan Fund, managed by NIIF, aims to strengthen its position in the electric two-wheeler market and clean mobility solutions.
Ather Energy is preparing for its IPO, targeting a valuation of around $2.5 billion.
Despite growth, Ather remains a loss-making entity, with net losses widening to INR 1,059.7 Cr in FY24.

Source: Inc42