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<keyword id="22905164" type="General" weightage="20" keywordseo="Hero-Motors-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero Motors Ltd" meta.hostid="261" meta.entityid="Hero Motors Ltd">Hero Motors Ltd</keyword>, the auto-components firm of the <keyword id="20312813" type="General" weightage="100" keywordseo="Hero-Motors" source="keywords">Hero Motors</keyword> Company (HMC) Group, today filed preliminary papers with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> to raise Rs 900 crore through an initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>). The IPO is a combination of a fresh issue of <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth Rs 500 crore and an Offer-For-Sale (<keyword id="19951016" type="General" weightage="20" keywordseo="OFS" source="keywords">OFS</keyword>) of shares valued at Rs 400 crore by promoters, according to the draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The OFS includes Rs 250 crore worth of shares by O P <keyword id="22905165" type="General" weightage="20" keywordseo="munjal-holdings" source="keywords">Munjal Holdings</keyword>, who hold 71.55% in the company, and Rs 75 crore each by Bhagyoday Investments and Hero Cycles, who hold 6.28% stake and 2.03% shares, respectively. South Asia Growth Invest LLC has 12.27% shareholding in the company. Additionally, the company may consider a pre-IPO placement of Rs 100 crore. If this placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue of upto Rs 202 crore will be used for debt payment, Rs 124 crore for purchase of equipment required for capacity expansion purposes, particularly for its plant in Noida, UP. Hero Motors is India's leading automotive technology company engaged in designing, developing, manufacturing and supplying high engineered <keyword id="22905163" type="General" weightage="20" keywordseo="powertrain-solutions" source="keywords">powertrain solutions</keyword> provider to automotive OEMs in the United States, Europe, India, and the ASEAN region. The company's product range includes both electric and non-electric powertrains for various vehicle categories including two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars and heavy-duty vehicles. For the uninitiated, powertrains refers to the combined assembly and mechanism that propel your vehicle ahead, and includes the engine, transmission, driveshaft, axle and more. <h2>Steady financials </h2> Hero Motors' revenue from operations stood Rs 1,064.4 crore in the fiscal 2024. ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers to the issue. However, as per its DRHP (draft red herring prospectus), a significant potion of its business relies just on their top 10 customers. In FY24, the company's revenue earned from its top 10 customers stood at Rs 8,191.86 million, constituting 76.96% of its total revenue from operations. In FY23, the share of top 10 customers to Hero Motor's total revenue from operations stood at around 88.84%. In FY24, Hero Motors derived 58.72% of its total revenue, or about Rs 6,249.85 million from India, while about 29.33%, or Rs 3,121.67 million stemmed from European region, including the United Kingdom. As of FY24, the company's most significant chunk of revenue (around 41.37%) came from two-wheelers, followed by motorsport and performative equipment (27.52%), automotive and aerospace related equipment (21.36%) and e-bikes (9.75%). Another concerning aspect is the company's PAT (profit after tax margin), which shrunk from 10.83% in FY22, to 1.60% in FY24. In terms of human resources, the company had 1,484 permanent employees as of March 31st, 2024, with an attrition rate of 14.42%.

Hero Motors files draft papers for Rs 900-crore IPO, may consider pre-IPO fundraising

Founder of <a href="http://www.businessinsider.in/searchresult.cms?query=Hero+Cycles+">Hero Cycles</a> Ltd, <keyword id="1839639" type="UNKNOWN" weightage="80" keywordseo="Om-Prakash-Munjal">Om Prakash Munjal</keyword> died in Ludhiana on Thursday, informed his family. 
 
The leading <a href="http://www.businessinsider.in/searchresult.cms?query=industrialist+">industrialist</a> passed away at the age of 87, reported PTI. 
 
Munjal, who was involved in <a href="http://www.businessinsider.in/searchresult.cms?query=philanthropic+">philanthropic</a> activities such as running schools and hospitals, breathed his last in the <keyword id="2999707" type="UNKNOWN" weightage="80" keywordseo="DMC-Hero-Heart-Centre-in-Ludhiana">DMC Hero Heart Centre in Ludhiana</keyword>. 
 
He is survived by a son and four daughters. 
 
Munjal's cremation will take place on Friday in the Model Town Extension Cremation ground here. 
 Munjal was born in <keyword id="2999706" type="UNKNOWN" weightage="60" keywordseo="Kamalia">Kamalia</keyword>, a city in <a href="http://www.businessinsider.in/searchresult.cms?query=Pakistan">Pakistan</a>. His family moved to <keyword id="6359825" type="COMPANY" weightage="40" keywordseo="amritsar">Amritsar</keyword> in 1944 to start a bicycle spare parts business, which flourished. 
 
However, their business was severely affected after the Partition of India. The family later shifted their operations from Amritsar to Ludhiana. In 1956, they moved from component manufacturing to complete bicycle <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing+">manufacturing</a> under brand name Hero. The company became the first bicycle manufacturing unit in India to produce over 600 bicycles in the first year. 
 
(Image: Indiatimes)

Hero Cycles founder Om Prakash Munjal dies at 87

<keyword id="2959027" type="UNKNOWN" weightage="80" keywordseo="Hero-Motors-Group">Hero Motors Group</keyword> said on Monday that it has elevated <keyword id="171496" type="PERSON" weightage="80" keywordseo="Pankaj-Munjal">Pankaj Munjal</keyword> as its chairman and managing director (CMD). 

	Pankaj Munjal has taken over from O P Munjal, who led the Ludhiana-based company for over 60 years, PTI reported, citing a statement by Hero Motors Group. 
 

	Further, O P Munjal has now been elevated to the position of Chairman Emeritus, according to the statement. 
 

	Pankaj Munjal joined the group as a trainee in 1988. In December 2011, he was appointed as its co-chairman and managing director. 
 The group comprises cycle major <keyword id="167885" type="COMPANY" weightage="100" keywordseo="Hero-Cycles">Hero Cycles</keyword>, auto parts manufacturing companies -- Hero Motors Ltd, ZF Hero Chassis Systems and Munjal Kiriu Industries -- hospitality arm <keyword id="2959360" type="UNKNOWN" weightage="80" keywordseo="Munjal-Hospitality">Munjal Hospitality</keyword> and luxury home decor products company <keyword id="2959359" type="UNKNOWN" weightage="60" keywordseo="Oma-Livings">Oma Livings</keyword>. 

	Incorporated in 1956, Hero Cycles is the largest cycle manufacturer in the world. The company has a manufacturing capacity of 7.5 million bicycles per year, with its unit in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP). 
	 
	(Image: YouTube)

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