The OFS includes ₹250 crore worth of shares by O P Munjal Holdings, and ₹75 crore each by Bhagyoday Investments and Hero Cycles.
The company may consider a pre-IPO placement of ₹100 crore. If such placement is completed, the fresh issue size will be reduced.
Proceeds from the fresh issue to the tune of ₹202 crore will be used for debt payment, ₹124 crore for purchase of equipment required for expansion in capacity of the company’s facility in Gautam Buddha Nagar, Uttar Pradesh.
Hero Motors is India’s leading automotive technology company engaged in designing, developing, manufacturing and supplying high-engineered powertrain solutions provider to automotive OEMs in the United States, Europe, India, and the ASEAN region.
The company’s product range includes both electric and non-electric powertrains for various vehicle categories including two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars and heavy-duty vehicles Hero Motors operates in two segments — powertrain solutions, and alloys and metallics. It has six manufacturing facilities across India, the United Kingdom, and Thailand.
Hero Motors’ revenue from operations stood ₹1,064.4 crore in the fiscal 2024.
ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers to the issue.
First Published Date: 24 Aug 2024, 18:04 PM IST