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MoneyWorks4Me

Hero MotoCorp’s promoter sells 4% stake for Rs 1,864 crore

19 Feb 2015 Evaluate

In a bid to explore new avenues under the ‘Make in India’ programme, the Hero Group has raised Rs 1,864 crore by selling stake of around 4% in two-wheeler arm, Hero MotoCorp. The promoter group sold 70 lakh shares, and now holds over 36% stake in the company compared with 39.92% earlier.

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.

Peers
Company Name CMP
Bajaj Auto 10350.00
TVS Motor Company 4200.00
Hero MotoCorp 5152.40
Eicher Motors 7210.00
OLA Electric Mobilit 33.16
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