Citigroup is likely to be the banker in this deal that will see Bain offload 8.57 shares, or 4.29 percent of its equity stake.
Private equity firm Bain Capital is planning to sell a part of its stake in auto major Hero MotoCorp through a block deal. The deal offer is sized upto USD 300 million with an upsize of USD 93 million.
Citigroup is likely to be the banker in this deal that will see Bain offload 8.57 shares, or 4.29 percent of its equity stake.
Also read: Anil Dua quits Hero MotoCorp; to pursue career abroad
The price range for the block deal is in the range of Rs 2582- 2717 per share. The price quoted is a 0-5 percent discount to the stock's current market price.
Bain Capital is reported to owns 8.58 percent stake in Hero MotoCorp, worth Rs 4,600 crore currently.
Hero Motocorp stock price
On June 12, 2014, Hero Motocorp closed at Rs 2708.55, up Rs 3.15, or 0.12 percent. The 52-week high of the share was Rs 2775.05 and the 52-week low was Rs 1565.95.
The company's trailing 12-month (TTM) EPS was at Rs 105.62 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 25.64. The latest book value of the company is Rs 356.32 per share. At current value, the price-to-book value of the company is 7.60.
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