Business
Prashant Jain's 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO
Reported by Deepak Mishra (Copy Editor) · Economic Times - Markets ·
Representative image · Wikimedia CommonsPrashant Jain's 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO. Hero Motors secured Rs 300 crore from anchor investors before its upcoming IPO. The company plans to raise Rs 1,000 crore through a mix of fresh issue and offer for sale. Proceeds will fund debt repayment, capital expenditure, and potential acquisitions. The automotive technology firm designs and manufactures powertrain solutions for various vehicles. Its IPO opens for public subscription on September 16 and closes on September 18. Hero Motors secured Rs 300 crore from anchor investors before its upcoming IPO. The company plans to raise Rs 1,000 crore through a mix of fresh issue and offer for sale.
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