Hero Motors Withdraws Rs 900 Crore IPO Plans October 8, 2024 MSME Sampark IPO News 0 Hero Motors, the automotive components arm of the Hero Motors Company (HMC) Group, has officially withdrawn its plans for an initial public offering (IPO) worth ₹900 crore, as noted in an update from market regulator SEBI on October 5, 2024. The company had initially planned to raise ₹500 crore through a fresh issuance of equity shares, with an additional ₹400 crore via an Offer for Sale (OFS) by existing shareholders. The OFS component involved the sale of shares by O P Munjal Holdings (₹250 crore), Bhagyoday Investments (₹75 crore), and Hero Cycles (₹75 crore). Hero Motors had filed its Draft Red Herring Prospectus (DRHP) with SEBI in August to seek approval for the IPO. Although no specific reason was disclosed for withdrawing the DRHP, it was originally planned that proceeds from the fresh issue would be used for debt repayment and to fund the purchase of new equipment to expand the company’s facility in Gautam Buddha Nagar, Uttar Pradesh. Hero Motors is a prominent player in India’s automotive technology sector, providing advanced powertrain solutions for various automotive original equipment manufacturers (OEMs) in regions like the United States, Europe, India, and the ASEAN markets. Their products include both electric and non-electric powertrains for a wide array of vehicles, including two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars, and heavy-duty vehicles. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a professional for any investment-related decisions. Popular Articles Msme News “10-15% se sidha 50% profitable hua” says Mukul Rustagi, CEO and Co-founder at Classplus Msme News Government Bridges Credit Gap for MSMEs in Recent Years, Says MSME Development Commissioner Msme News Swiggy Sustainability Summit 2025: Accelerating Towards a Greener Future Msme News FM Nirmala Sitharaman Announces GST Reduction, A Major Relief for MSMEs Msme News Arka Fincap Launches Small Ticket Loans for MSMEs in Tier II and Beyond Msme News LLP vs Pvt Ltd – What’s the Difference? Msme News Tamil Nadu Budget 2025: ₹1,918 Crore Allocated to Boost MSME Growth Msme News Digital Push Empowers SC/ST Entrepreneurs: Over 59,000 MSMEs Onboarded on GeM Msme News The Digital Pathway to Growth for MSMEs: Unlocking Their Potential in India’s Economy Msme News Empowering Rural Women: The Impact of Namo Drone Didi Scheme
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