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.