As a result of the merger, the shareholders of HIPL - BMOP (through its partners in representative capacity) and BC India Pvt.
The merger of HIPL into HMCL is going to benefit the public shareholders of Hero MotoCorp, as this will result in an increase in the public float of HMCL by approximately 12.
Formerly Konkan Carbon Ltd, HIPL
got its present name after being acquired by Mr.
The Munjals, who hold a controlling stake in Hero Honda, are looking to raise funds to finance the buyout through stake sale in HIPL
to PE and other foreign funds.
The reports mentioned that according to a filing on the Bombay Stock Exchange (BSE), HIPL revoked a total of 3,46,12,460 equity shares in three tranches on June 7, June 8 and June 10.
In March, the Cabinet Committee on Economic Affairs had approved a proposal for a Rs 4,500 crore foreign direct investment in HIPL by Bain Capital and Lathe Investment.
Few days ago, it had been reported that Two private equity firms, BC India Investors II and Lathe Investment Pvt Ltd, will together pick up a 29 per cent stake in HIPL
for Rs 3,650 crore.
It was mentioned that HIPL
is one of the main shareholders of the country's largest two-wheeler maker Hero Honda.
Now it has been reported that the Munjals are looking to raise funds to finance the buyout through stake sale in HIPL
to private equity and other foreign funds.
Lenders, including mutual funds, are asking HIPL
to pledge shares worth 1.
will buy the Japanese stake in one or more tranches, taking its holding to 43.