Ather Energy ventures into auto insurance distribution

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Electric two-wheeler maker Ather Energy is entering the auto insurance distribution space by incorporating a wholly owned subsidiary that will operate as a corporate agent, according to a recent filing with the National Stock Exchange (NSE).

The subsidiary is yet to be incorporated and is awaiting approvals from the Registrar of Companies (RoC) and the Insurance Regulatory and Development Authority of India (IRDAI), the filing said.

Ather will initially invest Rs 8 crore in the subsidiary, with additional investments planned as operations scale up.



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Ather Energy ventures into auto insurance distribution


Electric two-wheeler maker Ather Energy is entering the auto insurance distribution space by incorporating a wholly owned subsidiary that will operate as a corporate agent, according to a recent filing with the National Stock Exchange (NSE).

The subsidiary is yet to be incorporated and is awaiting approvals from the Registrar of Companies (RoC) and the Insurance Regulatory and Development Authority of India (IRDAI), the filing said.

Ather will initially invest Rs 8 crore in the subsidiary, with additional investments planned as operations scale up.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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