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To explore new avenues under the ‘Make in India’ programme, the Hero Group has raised ₹1,864 crore by selling nearly 4 per cent in two-wheeler arm, Hero MotoCorp.
The promoter group sold 70 lakh shares, and now holds over 36 per cent stake in Hero MotoCorp compared with 39.92 per cent earlier.
In a statement, the Hero Group said: “The Prime Minister’s ‘Make in India’ platform has opened up new vistas, some in very high growth areas and the Hero group — with its experience, scale of operations and brand equity — is uniquely placed to leverage these opportunities.”
The scrip closed at ₹2,667.5 on the NSE, down 4.9 per cent. Over 1.06 crore shares were traded with a delivery percentage of 72.85 (over 77.31 lakh shares).
On the BSE, over 9.06 lakh shares were traded, with a delivery percentage of 21.16 (over 1.91 lakh shares).
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