National Investment Fund II exits from Ather Energy via Rs 1,083 Cr bulk deal

National Investment Fund II, has sold nearly all of its shares representing 4.7% of the electric two-wheeler maker Ather Energy’s total paid-up capital through open market transactions on November 13, 2025.

The company sold 1.74 crore shares at an average price of Rs 622.35 per share aggregating to a total sum of Rs 1,083 crore. As of September 30, National Investment Fund II owned 1.77 crore shares of Ather Energy, forming a total of 4.7% of Ather Energy's total captable.

According to the stock exchange, the investor has sold 87 lakh shares via a bulk deal, while the rest of the shares were sold in block deals.

This block deal attracted strong institutional participation with Motilal Oswal Mutual Fund leading the buyers, picking up shares worth Rs 150 crore, followed by Invesco Mutual Fund with Rs 120 crore. Param Capital bought Rs 99.6 crore worth of shares, while Société Générale acquired Rs 62 crore.

Among others, Edelweiss Mutual Fund purchased Rs 50 crore, Ashoka WhiteOak ICAV and India Acorn ICAV (sub-account Ashoka India Opportunities Fund) invested Rs 25 crore each, and Ghisallo Master Fund LP bought Rs 10 crore worth of shares.

A week before, Tiger Global sold its entire stake for Rs 1204 crore, making  16X return on its investment.

In terms of EV sales, Ather Energy retained its third position in October, rebounding from flat growth in September to post a robust 53% increase with 28,061 registrations, capturing a strong 19.53% market share. The company also surpassed its competitor Ola Electric in terms of market capitalization.

For the second quarter, the company overtook its rival Ola Electric and posted a revenue of Rs 899 crore in Q2 FY26, increasing from Rs 583 crore in Q2 FY25. The company’s net losses reduced by 20% to Rs 157 crore in Q2 FY26 from Rs 197 crore in Q2 FY25.

Ather Energy’s stock is currently trading at Rs 644 (as of 11:15 AM), bringing its total market capitalization to Rs 24,494 crore ($2.7  billion).