Hero Motors IPO, Listing Date, Value | Good news is coming for IPO investors. Let us tell you that Hero Motors Limited, the auto parts firm of Hero Motors Company (HMC) group, has filed a draft with the market regulator SEBI to launch an IPO.
Table of Contents
Hero Motors IPO | Plan to raise Rs 900 crore
According to media reports, Hero Motors Company plans to raise Rs 900 crore through IPO. According to the draft red herring prospectus (DRHP), fresh equity shares worth Rs 500 crore will be issued under the IPO. Apart from this, the promoters will make an offer for sale (OFS) of shares worth Rs 400 crore.
Read This Too: Premier Energies Limited IPO, GMP, Grey Market Price
Hero Motors IPO Details
In OFS, OP Munjal Holdings is offering shares worth Rs 250 crore and Bhagyodaya Investments and Hero Cycles are offering shares worth Rs 75 crore each. The company can raise Rs 100 crore before the IPO, and if this happens, the size of the new issue will be reduced. The funds raised from the new issue will be used to repay debt, expand capacity and other works.
Hero Motors Business Information
In terms of clients, Hero Motors is one of the top automotive companies in India and provides powertrain solutions (electric and Offers both non-electric powertrains.
Hero Motors provides powertrain solutions to global clients such as BMW AG, Ducati Motor Holding S.p.A., Enviolo International Inc., Formula Motorsport, Hummingbird Inc.), HWA AG and global electric bicycle (e-bike) manufacturers.
Read This Too: Ecos India Mobility and Hospitality Limited IPO
Hero Motors Revenue Details
Hero Motors has reported a net profit of Rs 17 crore for the financial year ending March 2024, down 58 percent compared to the previous year’s profit of Rs 40.5 crore. This year the company’s revenue stood at Rs 1,064.4 crore from Rs 1,054.6 crore last year.