CCI Approves NIIF's Stake Acquisition in Ather Energy

The Competition Commission of India (CCI) has approved the National Investment and Infrastructure Fund's (NIIF) proposal to acquire an additional stake in Ather Energy. This transaction, facilitated under the green channel route, will help further IJF's goals in environmental sustainability and clean mobility transport solutions.

The Competition Commission of India has given the nod to the National Investment and Infrastructure Fund's (NIIF) proposal to acquire additional stakes in Ather Energy. The transaction was approved under the green channel route, indicating it raises no significant competition concerns.

The India-Japan Fund, managed by NIIF, focuses on environmental sustainability, low-carbon emission strategies, and boosting Japanese investments in India. The acquisition of Series G Compulsorily Convertible Preference Shares of Ather will further these objectives, according to an official order.

The move aims to boost the electric two-wheeler market, clean mobility solutions, and technology-driven last-mile transport vehicles. Notably, Ather Energy, which designs and develops electric scooters, recently became a unicorn, following a major funding round. Despite widened losses, the firm converted into a public limited company earlier this year, ahead of potential market listing plans.

(With inputs from agencies.)