Hero MotoCorp’s promoter Brij Mohan Lal Om Prakash is reportedly planning to sell nearly 7 million shares of the company in open market transactions on February 18, 2015. The shares are offered at an indicative price band of Rs 2,664 to Rs 2,720, a discount of as much as 5% from its Monday's closing price of Rs 2,805.
As on December 31, 2014, Brijmohan Lall Munjal held 12.40 million shares or 6.21% stake in the company.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
