US private equity firm Bain Capital has sold shares in Hero MotoCorp Ltd, the world's largest seller of motorcycles and scooters, to raise as much as $116 million.
Bain Capital sold the shares at Rs. 2593 per share. Total number of shares sold was 2.98 million.
Bain launched the deal to sell the 2.98 million Hero shares late on Tuesday, 25 November in the indicative price band of between Rs. 2,570 and Rs. 2,600 each.
Hero shares ended 0.3% higher on Tuesday at Rs. 2,645.35. The Indian markets are shut on Wednesday, 26 November, due to a holiday for Guru Nanak's birthday.
Morgan Stanley was the sole book runner for the deal.
