The Competition Commission of India has given its approval for the National Investment and Infrastructure Fund’s (NIIF) proposal to raise its stake in Ather Energy. The deal was approved under the regulator’s green channel route.
According to the order, the India-Japan Fund (IJF), managed by NIIF, will acquire Series G Compulsorily Convertible Preference Shares in Ather. The IJF focuses on investments that promote environmental sustainability, low-carbon emission strategies, and encourage Japanese investments in India.
This transaction will support IJF’s mission to create value in the electric two-wheeler market, clean mobility solutions, and technology-driven last-mile transportation. Ather focuses on designing and manufacturing electric scooters, while IJF is a SEBI-registered alternative investment fund aimed at bolstering the economic and strategic relationship between Japan and India.
