Tiger Global’s Rs 75 Cr investment in Ather Energy yields Rs 1,216 Cr exit

Tiger Global has fully exited electric two-wheeler maker Ather Energy, representing one of its most lucrative India bets with an over 16X return on its decade-long investment.

According to Ather’s draft red herring prospectus (DRHP), Tiger Global first backed the Bengaluru-based EV startup in 2015, investing Rs 75.23 crore during the Series A round for 74,732 Series A preference shares at an issue price of Rs 10,067.4 per share. Interestingly, the investment firm did not participate in any of Ather’s subsequent funding rounds.

As part of the…