Hero Motors, supported by South Asia Growth Invest, has filed papers with SEBI for a Rs 900 crore IPO. The offering includes a fresh equity issue worth Rs 500 crore and a Rs 400 crore offer-for-sale (OFS) by promoters.
Promoter O P Munjal Holdings will sell Rs 250 crore worth of shares, while Bhagyoday Investments and Hero Cycles will offload Rs 75 crore each. The company may explore a pre-IPO placement of Rs 100 crore, which would reduce the fresh issue's allocation for general corporate purposes if completed.