Hero Motors Ltd, the auto-components firm of the Hero Motors Company (HMC) Group, on Saturday submitted preliminary paperwork with markets regulatory authority Sebi to raise Rs 900 crore with a going public (Initial Public Offering). The Initial Public Offering is a mixture of a contemporary downside of fairness shares price Rs 500 crore and an Offer-For-Sale (OFS) of shares valued at Rs 400 crore by entrepreneurs, in response to the draft purple herring syllabus (DRHP).
The OFS consists of Rs 250 crore nicely price of shares by O P Munjal Holdings, and Rs 75 crore every by Bhagyoday Investments and Hero Cycles.
The enterprise would possibly take into consideration a pre-Initial Public Offering positioning of Rs 100 crore. If such positioning is completed, the contemporary downside dimension will definitely be minimized.
Proceeds from the contemporary downside to the music of Rs 202 crore will definitely be utilized for monetary obligation settlement, Rs 124 crore for acquisition of gadgets wanted for development in functionality of the enterprise’s heart in Gautam Buddha Nagar, Uttar Pradesh.
Hero Motors is India’s main vehicle fashionable expertise enterprise participated in growing, creating, making and offering excessive crafted powertrain cures service supplier to vehicle OEMs within the United States, Europe, India, and the ASEAN space.
The enterprise’s merchandise array consists of each electrical and non-electric powertrains for quite a few vehicle teams consisting of two-wheelers, e-bikes, off-road vehicles, electrical and hybrid autos and sturdy vehicles Hero Motors runs in 2 sectors– powertrain cures, and alloys and metallics. It has 6 manufacturing facilities all through India, the United Kingdom, and Thailand.
Hero Motors’ earnings from procedures stood Rs 1,064.4 crore within the financial 2024.
ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead supervisors to the issue.
