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State-Backed NIIF To Offload 2.3% Stake In Ather For INR 551 Cr
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State-Backed NIIF To Offload 2.3% Stake In Ather For INR 551 Cr
Days after Tiger Global exited Ather Energy, investor and state-backed National Investment and Infrastructure Fund (NIIF) now reportedly plans to dilute its stake worth INR 551 Cr in the electric vehicle (EV) maker via open-market transactions. As per a termsheet seen by NDTV Profit, NIIF plans to offload nearly 89 Lakh shares, or 2.34% shareholding, at INR 620 apiece. This represents a discount of 1.4% compared to the stock’s closing price of I…
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