Hero Motors upsizes IPO to ₹1,200 crore
Hero Motors is gearing up for a ₹1,200 crore IPO, raising its target from the earlier ₹900 crore.
The offer includes a fresh issue of ₹800 crore and a ₹400 crore sale by current shareholders.
The funds will help pay down debt and expand its Uttar Pradesh manufacturing facility.
Who is Hero Motors?
Hero Motors makes engine and transmission parts for two-wheelers, supplying big names like BMW, Ducati, and Harley-Davidson.
Led by Pankaj Munjal from the Hero MotoCorp family, the company saw revenue rise to ₹1,064.4 crore in FY24—most sales come from India (59%), but it also ships to Europe (29%) and the US (8%).
Gross profit improved, but net profit dropped in FY24
While gross profit improved in FY24 thanks to better margins (up to 39.4%), net profit actually dropped 67% year-on-year due to rising costs—a reminder that even growing companies face tough financial decisions along the way.