Bain to sell stake in Hero MotoCorp worth up to $393 million

Tags: Companies
U.S. private equity firm Bain Capital Partners LLC will sell its equity stake worth up to $393 million in Hero MotoCorp Ltd, India's largest maker of motorcycles and scooters, according to a deal term sheet seen by Reuters.

Bain Capital, which holds a 8.6 percent stake in Hero MotoCorp through its unit BC India Pvt Investors, will sell up to half of its shares in open market transactions on Friday, the term sheet for the deal showed.

The private equity firm is offering the Indian company's shares in the indicative price band of 2,582 rupees to 2,717 rupees each, it said, a discount of as much as 5 percent from its closing price on Thursday.

EDITORIAL OF THE DAY

  • Relations between US and India will depend on how Trump and Modi hit it off personally

    Donald Trump may have borrowed another popular tagline from India: Be Indian and buy Indian.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium: The cleansing & the yearning

As Twitter trolls went about their ugly business against Zaira ...

Kuruvilla Pandikattu

Bias and prejudice exist in science too

Religion has caused a lot of harm to humanity. ...

BK Chaturvedi

The politics of election

Elections in five states have been announced by the election ...