Hero Motors Gears Up for Rs 1,200 Crore IPO
Hero Motors plans to raise Rs 1,200 crore through an IPO, consisting of a fresh issue of Rs 800 crore and an offer-for-sale of Rs 400 crore by promoters. Proceeds will fund debt repayment, capacity expansion, acquisitions, and general purposes. Pre-IPO mobilization of Rs 160 crore is planned.
- Country:
- India
Hero Motors is moving forward with a significant financial maneuver, having filed draft papers with markets regulator Sebi to raise Rs 1,200 crore through its initial public offering (IPO).
This IPO includes a fresh issue of equity shares worth Rs 800 crore and an offer-for-sale amounting to Rs 400 crore by its promoters, as disclosed in the recent draft.
A notable portion of the proceeds, Rs 285 crore, is earmarked for debt repayment, while Rs 237 crore is set aside to procure equipment for capacity expansion at the company's Uttar Pradesh facility. Additional funds will support acquisitions and corporate initiatives.
(With inputs from agencies.)
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