Ather Energy is a Bengaluru-based electric two-wheeler maker that competes with the likes of Ola Electric Mobility Ltd., TVS Motor Ltd. and Bajaj Auto Ltd. (Photo: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Government-backed National Investment and Infrastructure Fund (NIIF) has offered to sell shares in Ather Energy Ltd. via large deals for Rs 551 crore.

The firm will offer nearly 89 lakh shares, or 2.34% equity, at Rs 620 apiece, a 1.4% discount to Wednesday's closing price, according to a termsheet.

NIIF held a 4.67% stake as of September, currently valued at Rs 1,118 crore. An affiliate, India Japan Fund, owns another 5.91%.

HSBC Securities and Axis Capital are the merchant bankers to the deal.

The NIIF was set up to attract long-term capital for

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