Business Standard

Hero Electric looks to raise nearly Rs 2,000 crore to drive expansion

The company is not looking for mergers and acquisitions, but is open to having a strategic investor who can bring some technical expertise

Hero Electric

Hero Electric has also tied up with Japan’s Nidec to source electric motors.

Sohini Das Mumbai
Hero Electric is in search of strategic or financial investors to raise nearly $250 million (around Rs 2,000 crore) to fund its expansion plans, a senior company executive said.

“We are looking at raising close to $250 million by September this year. For this, we are open to having on board either a financial investor or a strategic investor who can bring some technical expertise,” Sohinder Gill, CEO, Hero Electric, told Business Standard.   

He said the quantum of stake dilution would depend on valuation. India’s oldest two-wheeler EV maker is not looking for mergers and acquisitions.
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First Published: Jan 22 2023 | 6:11 PM IST

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