Hero Motors prepares to raise Rs 1,000 crore in its Delhi Street IPO launch
The Munjal family-controlled Hero Motors is launching an initial public offering later this month. The firm aims to raise Rs 1,000 crore through a combination of fresh shares and promoter offers.
Hero Motors, owned by the Munjal family, announced plans for an initial public offering later this month on Dalal Street. The company intends to raise a total of Rs 1,000 crore during the issue. This capital will come from two specific parts: a fresh issuance of 7.14 crore shares valued at Rs 600 crore and an offer for sale ranging up to 4.76 crore shares by promoter entities O P Munjal Holdings and Hero Cycles, worth Rs 400 crore combined. Although the company shares its group name with listed competitor Hero MotoCorp, it operates as a separate entity. Hero Motors focuses on automotive powertrain systems for original equipment manufacturers across the United States, Europe, India, and ASEAN nations. The firm designs, develops, and supplies solutions for electric and non-electric vehicles including two-wheelers, e-bikes, and hybrid cars.
