Ather Energy Limited has initiated a postal ballot process to seek shareholder approval for raising up to ₹1,500 Crores through a qualified institutions placement (QIP). The funds will be mobilised by issuing equity shares in one or more tranches to Qualified Institutional Buyers (QIBs). The proceeds are intended for investment in research and development, marketing initiatives, repayment of borrowings, and general corporate purposes.

The Board of Directors approved the fund-raising proposal at its meeting held on June 12, 2026. To facilitate the QIP, the company has appointed CS Biswajit Ghosh or CS Pramod S M, partners of M/s. BMP & Co. LLP, as the scrutinizer to oversee the voting process. The resolution requires a special majority from shareholders to pass.

E-Voting Schedule and Process

Shareholders whose names appear on the register of members or list of beneficial owners as on Friday, June 05, 2026, are eligible to vote. The company has engaged National Securities Depositories Limited (NSDL) to provide the remote e-voting facility.

The voting process is restricted to electronic mode only. Members can cast their votes through the NSDL e-voting website or via their depository participants. Once a vote is cast, it cannot be modified. The resolution will be deemed to be passed on the last date of e-voting, July 14, 2026, if it receives the requisite majority.

Key Terms of the Issue

The QIP will be conducted in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The pricing of the equity shares will be determined by the Board and shall not be less than the floor price calculated under the regulations, with a provision to offer a discount of up to 5%.

The securities will be allotted within 365 days from the date of the shareholders' resolution. The allotment will be made only to QIBs, and no single allottee shall receive more than 50% of the proposed issue size. The securities will rank pari passu with the existing equity shares of the company.

Hero MotoCorp Limited has confirmed that it holds 11,50,83,252 equity shares in Ather Energy Limited without any encumbrance as of the financial year ended March 31, 2026. The declaration, submitted on April 08, 2026, assures the exchanges and stakeholders that the promoter has not pledged or created any charge, directly or indirectly, on these shares during FY26. This disclosure is significant as it indicates the promoter's holding remains free from liabilities that could impact corporate control or voting rights.

The filing was addressed to the National Stock Exchange of India Limited, BSE Limited, and the Audit Committee of Ather Energy Limited . It was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates promoters to disclose any encumbrance on their shareholdings to ensure transparency in ownership structures.

Shareholding Details

The following table outlines the shareholding details disclosed in the filing:

The confirmation was signed by Prabhat Singh, Company Secretary & Compliance Officer of Hero MotoCorp Limited. The document explicitly states that no encumbrance was made on the shares during the specified financial year.