Hero Motors IPO in 2008 third quarter
The Munjals-promoted Hero Motors is set to join the IPO bandwagon with its initial public offer expected to hit the market by third quarter of next year.
By PTI |
NEW DELHI: The Munjals-promoted Hero Motors is set to join the IPO bandwagon with its initial public offer expected to hit the market by third quarter of next year.
"The IPO is expected to hit the market sometime in the third quarter of 2008 for which the details are being worked out," Hero Motors Managing Director Pankaj C Munjal said here on the sidelines of announcing the company's foray into health and fitness machine segment.
Asked how much capital the company was eyeing to raise from the market, Munjal said it was too early to put a figure.
"There is a lot of growth happening in the company and new areas emerging," he said.
Hero Motors, which manufactures mopeds, is foraying into auto components space. It has also been reported to be planning to enter the four-wheeler segment.
Recently, the company had roped in a Japanese partner to set up a new disc brake facility at Manesar, while its Ghaziabad unit's capacity has also been ramped up.
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