Bain Capital to exit Hero MotoCorp by selling its residual stake for Rs 760 crore

Bain Capital is set to exit Hero MotoCorp by selling its residual stake for Rs 760 crore in the Indian two-wheeler maker in a block deal. The US private-equity firm is selling its remaining stake at 1.7 per cent to 2.85 per cent discount within a price band of Rs 2,570 to Rs 2,600 per share. Morgan Stanley has been appointed to manage the deal which is likely to be concluded when markets open on Friday.

Hero MotoCorp is the world’s single largest two-wheeler motorcycle company. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.