Brij Mohan Lall Om Prakash (BMOP), a partnership firm of the promoter family members has offloaded a total of 57,54,744 shares of the Hero MotoCorp to another promoter firm in an open market transaction. The shares were offloaded on an average price of Rs 3,319 apiece, totalling to Rs 1,909.99 crore.
Another promoter entity Bahadur Chand Investments picked up 48,80,988 scrips of Hero MotoCorp for Rs 1,620 crore.
The transaction follows announcement of ownership realignment at the world’s largest two-wheeler manufacturer, under which Sunil Kant Munjal, younger brother of the company’s chief Pawan Munjal, will step down from the board when his tenure as joint managing director ends on August 16.
Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.
