Hero Motors Ltd. has announced the price band for its upcoming initial public offering between Rs 79 and Rs 84, according to a public filing released on Thursday.
The company is seeking to raise Rs 1,000 crore through this book build issue. The upper range of the price band, places the Hero Motors at a valuation of around Rs 3,815 crore.
The Hero Motors IPO is set to open its bidding process on Sept. 16, and will close it on Sept 18. Before the bidding window opens, the company will invite bids from anchor investment on September 15.
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The three-day share sale will include a fresh portion of up to Rs 600 crore, while its existing shareholders will sell shares worth up to Rs 400 crore.
The minimum amount of investment required by an individual investor (retail) is Rs 14,952 or 178 shares, based on upper price. ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
About The Company
Hero Motors was incorporated in April 1998 and is involved in designing, developing, manufacturing and supplying engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the United States, Europe, India and ASEAN region.
Additionally, the automotive technology company provides integrated solutions for both electric and non-electric powertrains, serving two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and eVTOL applications.
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