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
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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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