Hero MotoCorp will invest as much as Rs 1,758 crore ($184.01 million) in Ather Energy through an all-cash purchase of additional shares from an existing shareholder, lifting its ownership in the Bengaluru-based electric scooter maker to roughly 32.8% on a fully diluted basis. The transaction, disclosed in a regulatory filing, is expected to close by September 3 and requires no government or regulatory approvals. Ather shares rose nearly 10% on the BSE, opening at Rs 1,526.65 and reaching an intraday high of Rs 1,618.50, extending their gains to three consecutive sessions. Hero held 29.88% of Ather as of August 25. The investment follows Ather's separate Rs 960 crore convertible-warrant allotment to Hero and forms part of a broader capital-raising effort that has generated roughly Rs 2,500 crore for manufacturing expansion, product and technology development, and balance-sheet support. Ather's fiscal 2026 turnover rose to Rs 3,671.76 crore from Rs 2,255 crore in fiscal 2025, while its latest quarterly loss narrowed on demand for the Rizta scooter. SBI Securities' Sudeep Shah said the stock's technical indicators had turned positive and recommended accumulation at Rs 1,592-1,607, with a Rs 1,550 stop-loss and a short-term target of Rs 1,715.