Ather Energy taps offshore investor for fresh funding

Ather Energy, an electric two-wheeler manufacturer, is set to secure equity capital from an international investor to raise fresh funding to expand its manufacturing capacity and launch new vehicles. The company is in the market to raise $250 million (Rs 20.6 billion) at a valuation of $1.3 billion. It is likely to receive up to $25 million from the International Finance Corporation. The two new vehicles will be more affordable and will cater to a wider audience.