New Delhi, Sep 4 (PTI) Hero MotoCorp on Monday said it will invest an additional Rs 550 crore in Ather Energy.

The company's board, at its meeting held on September 4, 2023, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing.

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The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, it added.

Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1 per cent, the country's largest two-wheeler said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)