(MENAFN- IANS) Mumbai, July 10 (IANS) Hero Motors Limited (HML) on Thursday placed its fresh IPO document on the capital markets regulator SEBI's website. According to the document, the company's profit declined around 60 per cent to Rs 17.03 crore in the year ended on March 31, 2024 as compared to Rs 40.50 crore in preceding financial year (FY23).

The company aims to raise Rs 1,200 crore through selling equity shares at face value of Rs 10 each -- up from Rs 900 crore in its earlier filing.

The company had originally submitted its DRHP in August last year, but subsequently withdrew the application.

According to the fresh IPO document, the company's profit for the 9 months of FY25 ended in December 2024 stood at Rs 22.39 crore.

Meanwhile, its net revenue (revenue from operations + other income) increased marginally to Rs 1,083.41 crore in the year FY24. It was Rs 1,069.9 crore in FY23. The net revenue stood at Rs 823.8 crore for the 9 months of FY25.

The public issue is a combination of fresh shares and offer for sale, wherein the company issues fresh shares worth Rs 800 crore, and stakes worth Rs 400 crore will be offloaded by the promoters.

OP Munjak Holdings, Bhagyoday Investment, and Hero Cycles are among the promoters and promoter group offloading stakes.

The shares of the firm are proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

ICICI Securities, DAM Capital Advisors, and JM Financials are book-running lead managers, and KFin Tech is the registrar for the IPO.

The company was incorporated in the name of 'Hero Briggs and Stratton Auto Private Limited' as a private limited company under the Companies Act, 1956, under a certificate of incorporation dated April 30, 1998.

Thereafter, it became a deemed public company, and the name of our Company was changed to 'Hero Briggs & Stratton Auto Limited' with effect from August 25, 1998.

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