Hero MotoCorp to raise stake in Ather Energy to 32.8% with Rs 1,758 Cr investment

•Hero MotoCorp acquired 1.19 crore Ather Energy shares from GIC at Rs 1,480 apiece, valuing the transaction at Rs 1,758.24 crore.

•The acquisition increases Hero MotoCorp's stake in Ather Energy to 32.8% from 29.88% on a fully diluted basis.

•Hero MotoCorp invested Rs 960 crore in Ather Energy's recent Rs 1,200 crore preferential issue.

•Ather Energy's shares closed 8% higher at Rs 1,616.3, taking its market capitalization to Rs 63,762 crore.