Hero Motors has reduced its proposed IPO size from ₹1,200 crore to ₹1,000 crore, with the fresh issue cut to ₹600 crore from ₹800 crore, while the OFS remains at ₹400 crore. The revision follows SEBI approval.
The revised fresh-issue proceeds will be used primarily for ₹190 crore of debt repayment and ₹200 crore for capacity expansion equipment at the company's Gautam Buddha Nagar facility. The balance will support potential acquisitions and general corporate purposes.
The OFS composition has also changed: Bhagyoday Investments has withdrawn its ₹5 crore portion, while O P Munjal Holdings has increased its sale to ₹395 crore. Hero Cycles will continue to sell ₹5 crore worth of shares.
Hero Motors provides powertrain solutions for electric and non-electric vehicles, serving OEMs across India, Europe, the US and ASEAN. The reduced fresh issue still provides meaningful capital for deleveraging and capacity expansion, while the unchanged OFS preserves the ₹400 crore liquidity event for selling shareholders.
