State-Backed NIIF Exits Ather With ₹521 Cr Stake Sale

National Investment and Infrastructure Fund (NIIF) yesterday exited Ather Energy by selling its entire 1.92% stake in the EV company for ₹520.7 Cr via open market transactions.

As per BSE and NSE data, the state-backed fund offloaded 73.3 Lakh shares at ₹710 each to rake in the gains. 

The shares that flooded the market were lapped up by Abu Dhabi Investment Authority, ICICI Prudential Mutual Fund, Invesco, Motilal Oswal Mutual Fund, Societe Generale, Tata AIG Life Insurance, Aditya Birla Sun Life Mutual Fund, Morgan Stanley Asia and Goldman Sachs.

It is pertinent to note that the National Investment and Infrastructure Fund II had held 1.92% in the company at the end of the December 2025 quarter.

This comes barely three months after state-backed NIIF sold 87 Lakh Ather shares worth ₹541.6 Cr in a bulk deal in November last year. In the same month, another early backer Tiger Global also sold its entire 5.09% shareholding in the EV company for ₹1,204 Cr. 

This series of stake sales come as investors look to book profits amid an upward movement in the EV maker’s stock. Shares of the company have surged more than 13% in the past one month, but are still down 5% on a year-to-date (YTD) basis. 

Largely responsible for this uptick has been Ather consistently emerging as the third biggest seller of E2W vehicles on a monthly basis. It sold 20,786 E2W in January, up 21% from 17,204 in December. On top of this, the company has also been turning around its financials. 

On the financial front, Ather Energy managed to trim its net losses by 57% to ₹84.6 Cr in the third quarter (Q3) of the fiscal year 2025-26 (FY26) from ₹197.5 Cr in the same quarter last fiscal. Meanwhile, the company’s operating revenue jumped 50% YoY and 6% QoQ to ₹953.6 Cr. 

Founded in 2013 by Swapnil Jain and Tarun Mehta, Ather is an EV manufacturer. It currently operates two manufacturing facilities in Hosur, Tamil Nadu, one each for vehicle assembly and battery production. The Hosur facility has a manufacturing capacity of 4.2 Lakh scooters a year.

Shares of Ather Energy closed yesterday’s trading session 1.53% lower at ₹715.95 on the BSE. 

The post State-Backed NIIF Exits Ather With ₹521 Cr Stake Sale appeared first on Inc42 Media.