Hero MotoCorp – Artifex.News

Indian Government invests ₹200 cr; joins Founders and Hero MotoCorp in ₹1,200 cr Ather Energy fundraise

admin — Wed, 15 Jul 2026 16:15:00 +0000

Ather Energy factory
| Photo Credit: Kesavan A N@Chennai

The Hindu Bureau

The Government of India will invest ₹200 crore in Ather Energy through India-Japan Fund (IJF) a joint investment vehicle backed by the government of India and the Japan Bank for International Cooperation (JBIC).

This partnership between the government of India and Japan Bank of International Cooperation, is part of the round, thus marking a direct government stake in Ather Energy, one of India’s homegrown electric vehicle manufacturers.

Ather’s founders Tarun Mehta and Swapnil Jain are also participating in the round, investing ₹20 crore each, along with other existing promoters and IJF. Hero MotoCorp (HMC) is set to invest ₹960 crore as part of the round, according to Ather Energy’s regulatory filing on Wednesday.

All promoter investments in the round are being made at a ₹85 premium to the Securities and Exchange Board of India (SEBI)-mandated floor price. The company will issue 79.36 lakh warrants at ₹1,260 per warrant to HMC and promoters, and 16.26 lakh equity shares at ₹1,230 per share to IJF.

The company’s board had earlier approved a preferential allotment of about ₹1,000 crore. To accommodate the government-backed investment, the size of the allotment has now been increased by 20% thereby making it ₹ 1,200 crore, Ather further said in the filing.

Published – July 15, 2026 09:45 pm IST

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Hero MotoCorp names Harshavardhan Chitale as new CEO

admin — Mon, 08 Sep 2025 05:14:00 +0000

Harshavardhan Chitale.
| Photo Credit: Wikimedia

Hero MotoCorp, India’s largest two-wheeler maker, has named Harshavardhan Chitale, who heads Dutch lighting maker Signify’s professional business, as CEO effective Jan. 5, 2026.

Mr. Chitale will replace Vikram Kasbekar, who was named acting CEO after Niranjan Gupta resigned earlier this year. Mr. Kasbekar will continue as Chief Technology Officer, Hero said on Monday (September 8, 2025).

Mr. Chitale’s appointment will accelerate the ‘Splendor’ motorcycle maker’s push into electric and emerging mobility, Chairman Pawan Munjal said in a press release.

Mr. Chitale previously led Philips Lighting India through its spin-off into a standalone company. He has also held senior roles at HCL Infosystems and Honeywell Automation India.

Hero MotoCorp shares were trading flat after the news.

Published – September 08, 2025 10:44 am IST

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Hero MotoCorp Gets Demand Notice Of Rs 605 Crore From Income Tax Department

admin — Thu, 04 Apr 2024 14:39:12 +0000

Representational Image

New Delhi:

The country’s largest two-wheeler maker Hero MotoCorp on Thursday said it has received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.

On April 3, 2024, the company received assessment orders/ demand notices dated March 30, 2024, pertaining to six assessment years from the Income Tax department, the company said in a regulatory filing.

The two-wheeler major is examining the orders/ notices received and shall take appropriate steps, including the filing of appeals and rectification applications, it added.

The notice pertains to six assessment years, amounting to a tax demand of Rs 308.65 crore and interest thereon of Rs 296.22 crore, Hero MotoCorp said.

This is on account of certain disallowances, for the assessment years 2013-14 to 2017-18 and 2019-20, it added.

“In the opinion of the management, the demand raised is unsustainable in nature, and is unlikely to have material impact on financials, operations or other activities of the company,” the two-wheeler major stated.

Shares of the company on Thursday ended 0.75 per cent lower at Rs 4,522.30 apiece on the BSE.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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