Tiger Global Exits Ather Energy; Bajaj Auto and TVS Motor Announce Strategic Moves
Tiger Global Management has completely exited Ather Energy, selling its 5.09% stake for ₹1,204 crore. Bajaj Auto plans to acquire 24,000 shares of Pierer Bajaj AG for €24.32 million, potentially strengthening its global motorcycle market position. TVS Motor Company divested its stake in bike-taxi aggregator Rapido for ₹287.93 crore to Accel India VIII and MIH Investments One BV.
*this image is generated using AI for illustrative purposes only.
In a series of significant moves in the Indian automotive and investment landscape, Tiger Global Management, Bajaj Auto, and TVS Motor Company have announced major transactions, reshaping their investment portfolios and strategic positions.
Tiger Global's Complete Exit from Ather Energy
Tiger Global Management, the US-based investment firm, has made a complete exit from electric two-wheeler maker Ather Energy. The firm sold its entire 5.09% stake through open market transactions, netting ₹1,204 crore. The details of this substantial divestment are as follows:
| Aspect | Details |
|---|---|
| Seller | Tiger Global Management (via Internet Fund III Pte) |
| Stake Sold | 5.09% (over 1.93 crore equity shares) |
| Sale Price Range | ₹620.45 - ₹623.56 per share |
| Total Transaction Value | ₹1,204 crore |
This exit by Tiger Global from Ather Energy marks a significant shift in the investment landscape of India's growing electric vehicle sector.
Bajaj Auto's Strategic Acquisition Move
Simultaneously, Bajaj Auto has announced plans for a strategic acquisition targeting Pierer Bajaj AG. The key points of this move are:
| Aspect | Details |
|---|---|
| Acquiring Entity | Bajaj Auto International Holdings BV (subsidiary of Bajaj Auto) |
| Target Acquisition | 24,000 shares of Pierer Bajaj AG |
| Acquisition Value | 24.32 million Euro (approximately ₹248 crore) |
| Strategic Implication | Targets all 50,100 shares held by Pierer Industrie AG in Pierer Bajaj AG |
Notably, Pierer Bajaj AG holds a substantial stake (nearly 75%) in Pierer Mobility AG, which is the holding company of KTM AG. This move could potentially strengthen Bajaj Auto's position in the global motorcycle market.
TVS Motor Company's Divestment from Rapido
Adding to the day's corporate actions, TVS Motor Company has also announced a significant divestment:
| Aspect | Details |
|---|---|
| Company | TVS Motor Company |
| Action | Divestment of stake in Rapido (bike-taxi aggregator) |
| Transaction Value | ₹287.93 crore |
| Buyers | Accel India VIII (Mauritius) Ltd and MIH Investments One BV |
This move by TVS Motor Company to divest its stake in Rapido indicates a shift in its investment strategy in the mobility sector.
These transactions collectively highlight the dynamic nature of India's automotive and mobility sectors, with major players repositioning their investments and strategic holdings. The moves by Tiger Global, Bajaj Auto, and TVS Motor Company are likely to have significant implications for the competitive landscape in their respective markets.
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