Hero Motors Will Not Bring IPO: Hero Motors will not bring IPO, application given to SEBI was withdrawn, know why it had to be withdrawn…

Hero Motors Will Not Bring IPO: Automobile component manufacturing company Hero Motors has withdrawn its application from SEBI for its Initial Public Offering (IPO). The market regulator said that the company has withdrawn the DRHP on October 5. Hero Motors had planned to raise Rs 900 crore through this public offer.

According to reports, the company's promoter OP Munjal Holdings was planning to sell stake worth Rs 250 crore through OFS, other promoters Bhagyodaya Investment and Hero Cycles were also planning to sell stake worth Rs 75 crore through OFS. ICICI Securities, DAM Capital Advisors and JM Financial were the book running lead managers to the issue.

The company provides parts to electric and non-electric OEMs.

The company is owned by Pankaj Munjal. Pankaj is the cousin of Hero MotoCorp Limited Chairman Pawan Munjal. The company provides products and end-to-end solutions across gears and transmissions, alloy and metallic parts and bike powertrain systems to premium brands in the motorcycle, automotive, off-road and electric vehicle (EV) segments.

The company has 6 manufacturing units and two research and development centers.

The company's business is spread not only in India but also in America and Europe. Hero Motors has 6 manufacturing units and two research and development centres. More than one thousand employees work in the company.

The company earned a profit of Rs 419 crore in the financial year 2024.

The company's revenue in financial year 2024 was Rs 1064 crore. During this period, the company's gross profit increased by 22% year-on-year to Rs 419 crore. Earlier in the financial year 2022, the company had earned Rs 914, when the company had registered a profit of Rs 281 crore. According to reports, its promoters hold 91.65% stake in the company.