Bain Capital plans to part sell its shares in Hero MotoCorp: Sources

Private equity firm Bain Capital is planning to sell a part of its stake in Hero MotoCorp via block deals on exchanges, sources said. Bain Capital is in discussion with potential investors and is likely to sell shares worth approx $300 million, depending on the demand. The deal could hit the equity market in the next few days if price negotiation is complete, a source said.

Bain Capital owns 8.58% stake in Hero MotoCorp which is worth around Rs 4,600 cr at the current market price. “Bain Capital could be selling one-third of its holding in Hero MotoCorp, especially with Hero Moto stock trading close to the 52-week high levels” a source said.

Sources also confirm that the Bain Capital team had a crucial meeting with the Munjal family, promoters of Hero MotoCorp on the investment strategy of the firm. Neither Bain Capital, nor Hero MotoCorp responded to an e-mail query sent by ET NOW.