Hero Motors Shares Rebound After Weak Market Debut
Hero Motors shares rose after a subdued market debut following its initial public offering. The stock rebounded as the auto parts maker achieved a valuation above four hundred million dollars.
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Hero Motors shares rose 6.5% on Wednesday following a subdued market debut, capping a $104.2M initial public offering in India. The stock opened at 82 rupees, a 2.4% discount to its 84-rupee IPO price, before recovering by midday. The auto parts maker achieved a market capitalization of $418.95M on the National Stock Exchange.
