Hero Motors files for Rs 9 billion IPO
Hero Motors, part of the Hero Motors Company (HMC) Group, has filed with SEBI to raise Rs 9 billion through an IPO. The offer includes Rs 5 billion in new shares and Rs 4 billion through an offer-for-sale by promoters.
Promoter O P Munjal Holdings will sell shares worth Rs 2.5 billion, and Bhagyoday Investments and Hero Cycles will each sell shares worth Rs 750 million. The company may also conduct a pre-IPO placement of Rs 1 billion.
Hero Motors, a key supplier of powertrain solutions to global automotive OEMs, has clients like BMW AG and Ducati. Despite its market position, Hero Motors saw a drop in profit to Rs 1.7 billion in FY 2024, down from Rs 4.05 billion the previous year, with revenue rising slightly to Rs 10.64 billion.
ICICI Securities, DAM Capital Advisors, and JM Financial are managing the IPO.