Bain Capital sells 56 lakh shares of Hero for Rs 1,481 crore

Tags: Companies
Private equity firm Bain Capital India today offloaded over 56 lakh shares in Hero MotoCorp for an estimated Rs 1,481 crore through an open market route.

Bain Capital sold 32.08 lakh shares of Hero MotoCorp on the NSE and another 24.09 lakh scrips of the auto firm on the BSE, taking the total to 56.18 shares, according to data available with the stock exchanges.

The shares were offloaded at an average price of Rs 2,636.45 per scrip, valuing the transaction at Rs 1,481.18 crore.

Bain Capital owned 8.58 per cent stake, or 1.71 crore shares, in Hero MotoCorp at the end of the March quarter.

Meanwhile, in a separate bulk deal, Goldman Sachs Singapore Pte picked up 10.45 lakh shares of Hero MotoCorp for Rs 275.41 crore.

Yesterday, BMOP (Brij Mohan Lall Om Prakash), the investment arm of the Brijmohan Lal-led Hero Group, said in a statement: "Bain Capital has been an investor in Hero MotoCorp for over three-and-a-half years now. Typically financial investors like Bain Capital have a 3-5 year investment horizon and Bain has decided to partially monetise their investment now."

Bain Capital has over $ 75 billion in assets under management.

Shares of the auto company today fell by 4.42 per cent to close at Rs 2,588.85 apiece on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The NDA government would do well to keep its economic focus in place

    It is as if the worst horrors conjured by liberal secularists about India’s prime minister could be finally coming true.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture