India, June 13 -- Listed electric vehicle (EV) maker Ather Energy's board has approved a proposal to raise up to Rs.2,500 Cr via a qualified institutional placement (QIP) and other equity-linked instruments.

In a filing with the exchanges, the original equipment manufacturer (OEM) said that it plans to issue securities totalling up to Rs.1,500 Cr via a QIP, while the remaining Rs.1,000 Cr would be raised through a preferential issue, rights issue, equity shares or foreign currency convertible bonds (FCCBs).

As part of this, the listed EV major's board has constituted a committee to deal with all matters related to the proposed fund raise.

This comes days after Ather informed the bourses that its board would consider a proposal to raise...