Latest news with #PankajMunjal
Time of India
a day ago
- Automotive
- Time of India
IPO watch: Hero Motors refiles IPO papers with Rs 1,200 crore issue, ups fresh component to Rs 800 crore
Hero Motors IPO: Hero Motors has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) with an increased issue size of Rs 1,200 crore. The revised IPO will consist of a fresh issue of equity shares worth up to Rs 800 crore and an offer for sale (OFS) of up to Rs 400 crore by promoters. According to the DRHP quoted in an ET report, the OFS portion includes Rs 390 crore worth of shares from O P Munjal Holdings, and Rs 5 crore each from Bhagyoday Investments and Hero Cycles. The company may also explore a pre-IPO placement of up to Rs 160 crore, which would reduce the size of the fresh issue accordingly, the report said. Led by Pankaj Munjal, a member of the Munjal family behind Hero MotoCorp, Hero Motors counts premium global brands like BMW, Ducati, and Harley-Davidson among its clients. The proceeds from the IPO will be used primarily to reduce debt and for the purchase of capital equipment to expand its manufacturing facility in Uttar Pradesh. As per the DRHP, not more than 50% of the IPO will be reserved for qualified institutional buyers (QIBs), while a minimum of 15% will be allocated to non-institutional investors and 35% to retail investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The IPO will be conducted through a book-building process, according to the report. Hero Motors had originally filed IPO papers in August 2023 for a Rs 900 crore issue. Promoters currently hold a 91.65% stake in the company, which manufactures engine and transmission components for two-wheelers. In FY24, 49% of Hero Motors' revenue came from powertrain solutions and 51% from its alloys and metallics (A&M) segment. Geographically, 59% of its FY24 revenue came from India, followed by 29% from Europe and 8% from the US. The company's revenue from operations rose from Rs 914.2 crore in FY22 to Rs 1,064.4 crore in FY24, while gross profit grew at a CAGR of 22% from Rs 281.4 crore to Rs 419.4 crore during the same period. Gross margins improved significantly from 30.78% in FY22 to 39.40% in FY24. ICICI Securities, DAM Capital Advisors, and JM Financial are acting as book-running lead managers to the issue, and KFin Technologies is the registrar. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NDTV
a day ago
- Automotive
- NDTV
Hero Motors Refiles IPO Papers, Increases Issue Size To Rs 1,200 Crore
Hero Motors, the auto components maker, has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering (IPO) of Rs 1,200 crore. This reflects an increase in the proposed issue size compared to the Rs 900 crore filed in August 2024. The IPO features a fresh issue of up to Rs 800 crore along with an offer for sale totaling up to Rs 400 crore from the promoters. Within the offer for sale, there are shares valued at Rs 390 crore from O P Munjal Holdings and Rs 5 crore each from Bhagyoday Investments and Hero Cycles. Also Read: Suzuki Motorcycle India Reports 8 Percent YoY Growth In June 2025 Sales The company aims to allocate Rs 285 crore from the fresh issue to repay or prepay existing loans, while Rs 237 crore will be directed toward expanding capacity at its facility in Gautam Buddha Nagar, Uttar Pradesh. Hero Motors also plans to use the funds for inorganic growth through acquisitions and for general corporate activities. The new filing shows the company's fresh effort to enter public markets following its previous withdrawal, with the larger issue size indicating updated funding needs for debt reduction and expansion initiatives. The auto components manufacturer had previously withdrawn their Rs 900 crore IPO papers back in October 2024 after filing them with SEBI in August 2024. The aforementioned proposal included a fresh issue of Rs 500 crore and an offer for sale component of Rs 400 crore. Hero Motors, managed by Pankaj Munjal, works within the auto components industry and counts BMW and Ducati as clients. Pankaj Munjal is part of the Munjal family, which operates Hero MotoCorp, the largest two-wheeler manufacturer in India by volume.
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Business Standard
2 days ago
- Automotive
- Business Standard
Hero Motors refiles DRHP, raises IPO size to ₹1,200-cr; key details here
Hero Motors IPO: Auto components maker Hero Motors has refiled its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (Sebi) for its maiden public issue. The company has increased the issue size from ₹900 crore to ₹1,200 crore. In August last year, the company filed papers for a ₹900 crore IPO. The Hero Motors IPO with a face value of ₹10 per share comprises a combination of fresh issue up to ₹800 crore and an offer for sale (OFS) up to ₹400 crore by promoters. The OFS component includes ₹390 crore worth of shares by OP Munjal Holdings, and ₹5 crore each by Bhagyoday Investments and Hero Cycles, as per the DRHP. According to the DRHP, not more than 50 per cent of the issue shall be reserved for qualified institutional buyers (QIBs), not less than 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail individual investors. Hero Motors IPO registrar, lead managers Kfin Technologies is the registrar for the issue. ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers of the issue. Hero Motors IPO objective According to the DRHP, the company plans to utilise ₹285 crore from the net issue proceeds for repayment or prepayment or redemption of certain outstanding borrowings availed by itself and ₹237 crore for the purchase of equipment required for expansion in capacity of its facility in Gautam Buddha Nagar, Uttar Pradesh. The remaining funds will be used for funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes. Hero Motors financial snapshot In the nine-month period ended December 31, 2024, the company reported revenue from operations of ₹807.2 crore and profit after tax of ₹22.39 crore. In the financial year 2023-24 (FY24), Hero Motors reported revenue from operations of ₹1,064.38 crore, marginally up from 1,054.6 crore in the previous financial year. The company's earnings before interest, tax, depreciation and amortisation came in at ₹82.8 crore in FY24 compared to ₹97.35 crore in the previous fiscal. Its profit after tax (PAT) stood at ₹17 crore, down around 58 per cent from 40.5 crore in the FY23. About Hero Motors Hero Motors is the automotive flagship company of the Hero Group which is one of the world's largest two-wheeler and cycle manufacturers. The company offers comprehensive solutions including services for designing, prototyping, validating, developing, and delivering system-level powertrain solutions for both electric as well as non-electric powertrains. Its operations are organised into Powertrain Solutions and Alloys and Metallics business segments. Pankaj Munjal, Charu Munjal, Abhishek Munjal and OP Munjal Holdings are the promoters of the company. As per the DRHP, the promoters currently own 91.65 per cent stake in the company.
Hindustan Times
2 days ago
- Automotive
- Hindustan Times
Hero Motors files for IPO up to $140 million
Jul 01, 2025 10:33 AM IST Indian auto parts maker Hero Motors has filed for an initial public offering of up to 12 billion rupees ($140.1 million), draft papers showed on Tuesday. Proceeds from the IPO will be used to trim debt and fund purchase of equipment to expand its facility(REUTERS) The company will issue fresh shares worth up to 8 billion rupees while its existing shareholders will sell shares worth up to 4 billion rupees, the draft prospectus showed. Hero Motors, which counts BMW and Ducati as its clients, is led by Pankaj Munjal, who belongs to the Munjal family that runs India's largest two-wheeler maker by volumes, Hero MotoCorp. Proceeds from the IPO will be used to trim debt and fund purchase of equipment to expand its facility in India's Uttar Pradesh state, Hero Motors said. Its full fiscal year 2024 net profit fell 67% on-year, as increased expenses overshadowed a near-1% rise in revenue. ICICI Securities, JM Financial and DAM Capital are the book running lead managers of the offering. ($1 = 85.6600 Indian rupees)
Economic Times
2 days ago
- Automotive
- Economic Times
Hero Motors refiles papers for IPO, raises issue size to Rs 1,200 crore
Hero Motors, an Indian auto parts manufacturer with clients like BMW and Ducati, has filed for an IPO of up to 12 billion rupees. Hero Motors has refiled its DRHP with SEBI for an IPO, increasing the issue size to Rs 1,200 crore. The IPO includes a fresh issue of shares worth Rs 800 crore and an offer for sale of Rs 400 crore by existing shareholders. The proceeds will be used to reduce debt and expand the Uttar Pradesh facility. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Auto components maker Hero Motors has refiled its Draft Red Herring Prospectus (DRHP) with markets regulator SEBI for an initial public offering (IPO), increasing the issue size from Rs 900 crore to Rs 1,200 company plans to issue fresh shares worth up to Rs 800 crore, while its existing shareholders will sell shares worth up to Rs 400 crore, according to the draft Motors, which counts BMW and Ducati among its clients, is led by Pankaj Munjal , a member of the Munjal family that runs Hero MotoCorp , India's largest two-wheeler manufacturer by from the IPO will be used to reduce debt and fund the purchase of equipment to expand its facility in Uttar Pradesh , Hero Motors in August last year, the company had filed papers for a Rs 900 crore of now, the promoters hold a 91.65% stake in the Motors manufactures engine and transmission components for two-wheelers and has a global clientele that includes brands such as BMW, Ducati, and FY24, 49% of the company's revenue came from powertrain solutions, while the remaining 51% came from the alloys and metallics (A&M) business about 59% of FY24 revenue was derived from India, 29% from Europe, and around 8% from the US. The company's revenue from operations grew from Rs 914.2 crore in FY22 to Rs 1,064.4 crore in FY24. Meanwhile, gross profit rose from Rs 281.4 crore in FY22 to Rs 419.4 crore in FY24, at a CAGR of 22%, with gross margins improving from 30.78% in FY22 to 39.40% in FY24.
