The Hindu Businessline

Hero Motors IPO: 79-84 price band targets 3,815-crore valuation as EV business grows

The company will use 190 crore of the fresh proceeds to repay or prepay borrowings and 200 crore to buy equipment for expanding capacity at its UP facilityHero Motors has priced its 1,000-crore IPO at 79-84 a share, targeting a valuation of about 3,815 crore as the Tier-1 automotive component maker, which counts BMW and Ducati among its global customers, raises capital to cut debt and expand powertrain capacity while electric mobility becomes a bigger growth engine