Hero Motors files Rs 900 crore IPO with SEBI, including Rs 500 crore fresh issue and up to Rs 400 crore offer-for-sale by promoters.
Hero Motors, an Indian auto components company, has filed a draft red herring prospectus with SEBI for a Rs 900 crore IPO. The IPO will comprise a fresh issue of shares worth Rs 500 crore and an offer-for-sale component of up to Rs 400 crore by promoters. Hero Motors specialises in designing, developing, manufacturing, and supplying advanced powertrain solutions to automotive OEMs across the US, Europe, India, and ASEAN. Proceeds from the fresh issue will be used for debt repayment, funding capital expenditure, and general corporate purposes.
August 24, 2024
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