Hero Motors Ltd., the auto-components firm of the Hero Motors Co. Group, has filed its draft red herring prospectus with the markets regulator again on Tuesday, to raise Rs 1,200 crore through an initial public offering.
The IPO will include a fresh issue of shares worth Rs 800 crore and an offer for sale worth Rs 400 crore.
ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers to the issue, while KFin Technologies Ltd. has been appointed as the registrar.
This filing comes after the company withdrew its draft papers for a Rs 900 crore initial public offering in October.
Originally submitted in August, the IPO was first proposed with a Rs 500-crore fresh issue of shares and a Rs 400-crore offer for sale by the promoters. Pankaj Munjal, the promoter, along with Bhagyoday Investments Pvt. and Hero Cycles Ltd.— both part of the promoter group— were anticipated to sell shares through the OFS.
In the latest DRHP, the selling stakeholders in Hero Motors’ IPO include O P Munjal Holdings, which is offering up to Rs 390 crore worth of equity shares of face value Rs 10 each. Additionally, Bhagyoday Investments and Hero Cycles are offering up to Rs 5 crore worth of equity shares each, also of face value Rs 10 each.
Hero Motors is one of India’s leading automotive technology company, engaged in designing, developing, manufacturing, and supplying highly engineered powertrain solutions 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.
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