Ather Energy Block Deal | 32.79 lakh shares worth ₹233 crore change hands

As many 32.79 lakh shares of Ather Energy Ltd. worth ₹233 crore changed hands in block deal window.On Tuesday, February 10, sources told CNBC-TV18 that the National Investment and Infrastructure Fund (NIF) was to sell up to 1.92% stake in Ather Energy via a block deal.

The offer size was estimated at ₹533.5 crore and the deal rice was expected in the ₹705.7 to ₹727.5 per share, sources added.
At the end of the December quarter, the National Investment and Infrastructure Fund Ii held 1.92% stake in the company.Ather Energy, headquartered in Bengaluru, reported a net loss of ₹83.6 crore in the third quarter

compared to ₹197.6 crore in the previous year.Its revenue increased 50% to ₹953.6 crore from ₹635 crore in the third quarter of the previous fiscal. Its adjusted gross margin increased 111% to ₹251.3 crore from the previous year.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) reduced to ₹72 crore from ₹140 crore in the previous year.

In an interaction with CNBC-TV18, Tarun Mehta, co-founder and CEO of Ather Energy, said nearly 14% of the company’s revenue now comes from non-vehicle sources, largely driven by software sales, which is providing strong support to profitability and is expected to continue growing, especially with encouraging traction in newer and northern markets.

Shares of Ather Energy ended the previous session 0.1% lower at ₹725.05 apiece. The stock has gained 13.4% in the past month, 72% in the last six months and 140% in the past year.

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