Hero MotoCorp has made an investment of Rs 15 crore by way of Rights issue in its subsidiary company, HMC MM Auto. This is not an acquisition, but subscription by Hero MotoCorp, in the Rights issue of HMC MM Auto. The said transaction is expected to be completed within next 30 days. The company has subscribed 1,50,00,000 Equity Shares at Face Value of Rs 10 each. With this subscription, the company's shareholding increased to 66.32% from 60% earlier.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
