NIIF gets CCI’s clearance to buy additional stake in Ather

New Delhi: The Competition Commission of India has approved the National Investment and Infrastructure Fund’s (NIIF) proposal to acquire an additional stake in Ather Energy.

The deal was cleared by the competition watchdog under the green channel route. “The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather,” the regulator said in an order. India-Japan Fund (IJF) is a fund managed by NIIF. The fund focuses on investing in environmental sustainability, and low-carbon emission strategies and promoting investments by Japanese companies in India.

The transaction will help IJF further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles, it added.