Hero Motors opens IPO priced ₹79-₹84 to raise ₹1,000 cr
Business
Hero Motors is opening its IPO for subscription today, hoping to raise ₹1,000 crore.
Shares are priced between ₹79 and ₹84 each, with retail investors needing at least ₹14,952 to get in.
The IPO is already buzzing with a 23% premium in the gray market.
Hero Motors plans debt reduction, expansion
Hero Motors plans to use the funds to pay down debt and expand its facilities in Uttar Pradesh. They're also eyeing new acquisitions and other big moves.
The company's been growing steadily: revenue went up 9% this year to ₹1,216.74 crore, and profits jumped 26%.
Plus, they work with global names like BMW and Ducati, so they're not just playing local anymore.