Hero Motors to hit D-Street with Rs 1,500 crore IPO: Report

Pankaj Munjal promoted Hero Motors is looking to the D-Street with a Rs 1500 crore IPO.

Hero Motors is likely to hit the D-Street with a Rs 1500 crore IPO for which the auto component company has picked three investment banks, according to a report in The Economic Times.

Moneycontrol could not independently verify the authenticity of the report.

Hero Motors was spun off from Hero Cycles and produces engine and transmission components for two wheelers.

The company has a lucrative clientele comprising BMW, Ducati and Harley Davidson, the ET report added.

The auto components arm of Hero Motors Company Group is also planning to significantly ramp up investments in EV component manufacturing.

The company had raised growth capital from private equity firm GEF Capital Partners and its LPs for 10% stake in January this year, according to media reports.