New Delhi, Aug. 28 -- Ather Energy shares surged nearly 10% on Friday, 28 August, after Hero MotoCorp announced an investment of up to Rs.1,758 crore in the electric two-wheeler maker. The investment will raise Hero MotoCorp's stake in Ather Energy to around 32.8% on a fully diluted basis.

Hero MotoCorp held a 29.88% stake in Ather Energy as of 25 August. The latest acquisition is expected to increase its fully diluted shareholding to around 32.8%, up from 29.88%. The transaction is likely to be completed by 3 September.

According to Hero MotoCorp's regulatory filing, the proposed transaction does not qualify as a related-party transaction. The company also stated that none of its promoters, promoter group entities or group companies ha...