Tiger Global offloads entire 5.09% stake in Ather Energy for Rs 1,204 crore

New Delhi: Investment firm Tiger Global Management has exited Ather Energy by selling its entire 5.09% stake in the electric two-wheeler maker for Rs 1,204 crore through open market transactions.

US-based Tiger Global Management, through its affiliate Internet Fund III Pte, offloaded a little over 1.93 crore equity shares, or 5.09% stake, in Ather Energy, as per the bulk deal data available on the BSE and National Stock Exchange (NSE).

The shares were sold in the price range of Rs 620.45-623.56 apiece, taking the combined transaction value to Rs 1,204.39 crore.

Details of the buyers of Ather Energy's shares could not be ascertained on the BSE and NSE.

At the end of the September quarter data, promoters held a 41.22% stake in the company compared to 42.09% in the June quarter.