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Pakistan’s government is moving swiftly toward integrating cryptocurrency into its

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Pakistan’s government is moving swiftly toward integrating cryptocurrency into its financial ecosystem, aiming to bring digital currencies into mainstream banking, forex operations, and gold trading, according to a Wednesday media

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VCG | Visual China Group | Getty Images Google on Wednesday said it will sign the European Union’s guidelines on artificial intelligence, which Meta previously rebuffed due to concerns

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures, is in early-stage discussions to acquire a majority stake in Shunya, the premium zero-sugar fruit drink brand owned

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Pakistan’s government is moving swiftly toward integrating cryptocurrency into its financial ecosystem, aiming to bring digital currencies into mainstream banking, forex operations, and gold trading, according to a Wednesday media

The EU sanctions against Russia are expected to have significant implications for Indian refiners, according to a recent ICRA report.On July 18, the EU implemented its 18th sanctions package against

Nayara’s lawyer told a New Delhi court today that the services have been restored by Microsoft. EU sanctions on Russia: Global IT giant Microsoft has restored IT services to Russia-backed

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures, is in early-stage discussions to acquire a majority stake in Shunya, the premium zero-sugar fruit drink brand owned

Access Denied You don’t have permission to access ” on this server. Reference #18.4cfdd417.1753860396.c63d64d Source link

The Asian Infrastructure Investment Bank (AIIB) plans to increase its investment exposure in India from $12 billion to $16-17 billion over the next two to three years. This expansion is

IPO watch: Hero Motors refiles IPO papers with Rs 1,200 crore issue, ups fresh component to Rs 800 crore

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IPO watch: Hero Motors refiles IPO papers with Rs 1,200 crore issue, ups fresh component to Rs 800 crore

Hero Motors IPO: Hero Motors has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) with an increased issue size of Rs 1,200 crore. The revised IPO will consist of a fresh issue of equity shares worth up to Rs 800 crore and an offer for sale (OFS) of up to Rs 400 crore by promoters.According to the DRHP quoted in an ET report, the OFS portion includes Rs 390 crore worth of shares from O P Munjal Holdings, and Rs 5 crore each from Bhagyoday Investments and Hero Cycles. The company may also explore a pre-IPO placement of up to Rs 160 crore, which would reduce the size of the fresh issue accordingly, the report said.Led by Pankaj Munjal, a member of the Munjal family behind Hero MotoCorp, Hero Motors counts premium global brands like BMW, Ducati, and Harley-Davidson among its clients. The proceeds from the IPO will be used primarily to reduce debt and for the purchase of capital equipment to expand its manufacturing facility in Uttar Pradesh.As per the DRHP, not more than 50% of the IPO will be reserved for qualified institutional buyers (QIBs), while a minimum of 15% will be allocated to non-institutional investors and 35% to retail investors. The IPO will be conducted through a book-building process, according to the report.Hero Motors had originally filed IPO papers in August 2023 for a Rs 900 crore issue. Promoters currently hold a 91.65% stake in the company, which manufactures engine and transmission components for two-wheelers.In FY24, 49% of Hero Motors’ revenue came from powertrain solutions and 51% from its alloys and metallics (A&M) segment. Geographically, 59% of its FY24 revenue came from India, followed by 29% from Europe and 8% from the US.The company’s revenue from operations rose from Rs 914.2 crore in FY22 to Rs 1,064.4 crore in FY24, while gross profit grew at a CAGR of 22% from Rs 281.4 crore to Rs 419.4 crore during the same period. Gross margins improved significantly from 30.78% in FY22 to 39.40% in FY24.ICICI Securities, DAM Capital Advisors, and JM Financial are acting as book-running lead managers to the issue, and KFin Technologies is the registrar.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)





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