Bain Capital sells about 8.5 million shares in India's Hero MotoCorp Ltd. to raise $200 mln

Wednesday 12 November 2014, 17:30 PM by

Bain Capital has held over 8.5 Million shares in Hero MotoCorp. Citing investor demand the company, Bain Capital has reportedly sold out about 8.5 million shares from world's largest bike maker Hero MotoCorp to raise funds of about Rs 2,457 crore ($200 mln) through the open market route.

Bain Capital sells about 8.5 million shares in India
Bain Capital sells about 8.5 million shares in India’s Hero MotoCorp Ltd. to raise $200 mln

Bain Capital has further been planning on selling more stocks of required over this 4% stake withdrawal. Speaking more on the occasion a source has stated that the company may still want to hold a little over 1.5% stake in the Indian two-wheeler company. Owing to this, Hero Motocorp's shares have ended lower by 1.99 per cent to settle at Rs 2,898.50 on the BSE, whereas the Sensex closed to about 27,868.63 points which is indeed down by 0.17%. As of now, officials from both Hero MotoCorp and Bain Capital have denied commenting on the situation.

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