Hero MotoCorp Eyes India IPO at 38.15 Billion Rupee Valuation

MT Newswires Live
Sep 10

Hero MotoCorp (BOM:500182, NSE:HEROMOTOCO) has determined a price band of 79 to 84 Indian rupees for its initial public offering, seeking a maximum valuation of 38.15 billion rupees, according to a public disclosure on Thursday.

The filing showed that the company will issue fresh equity worth 6 billion rupees and existing shareholders will offer shares worth 4 billion rupees. The proceeds will fund debt repayment and capital expenditures.

Bids will open on Sept. 16 and close on Sept. 18. However, anchor investors will send offers starting Sept. 15, and their submissions will close the same day. The company's shares will begin trading on Indian stock exchanges on Sept. 23.

ICICI Securities, DAM Capital, and JM Financial are the lead bookrunners for the IPO.

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