Hero MotoCorp has received approval from its board for investment up to Rs 700 crore in Hero FinCorp (HFCL). The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature.
HFCL is in the process of raising up to Rs 2,000 crore through private placement for its business purposes. Hero MotoCorp's investment of Rs 700 crore is towards participation in this capital raise round. Prior to the proposed investment, Hero MotoCorp's shareholding in HFCL stands at 41.2 per cent. The exact shareholding of Hero MotoCorp in HFCL post the investment, will be determined upon completion of capital raise round by HFCL.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
| Company Name | CMP |
|---|---|
| Bajaj Auto | 10153.35 |
| TVS Motor Company | 3625.45 |
| Hero MotoCorp | 4898.30 |
| Eicher Motors | 7365.40 |
| Ather Energy | 1218.80 |
| View more.. | |
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