Hero Motors Targets $401M Valuation in India IPO
Indian auto parts maker Hero Motors has set a share price band for its upcoming initial public offering targeting a valuation of about 401 million dollars. The three-day share sale will open next week to trim debt and fund equipment purchases.
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Hero Motors has set a price band of 79 rupees to 84 rupees per share for its $105 million IPO in India, seeking a valuation of up to $401.16 million. The share sale follows a string of automotive listings in the region. The offering gives investors exposure to a supplier backed by major international brands.
