Controlling shareholders of Hero MotoCorp Ltd , India's biggest maker of motorcycles and scooters, plan to sell USD 300 million worth of shares later in the day, according to a term sheet seen by Reuters. Brij Mohan Lal Om Prakash would sell nearly 7 million shares in India's biggest maker of motorcycles and scooters in open market transactions on Wednesday, the term sheet for the deal showed. The block deal if successful would pare the promoters' stake to 36.92 percent from 39.92 percent. The shares are offered at an indicative price band of 2,664 rupees to 2,720 rupees, the term sheet showed, a discount of as much as 5 percent from its Monday's closing price of 2,805 rupees. Kotak and Barclays are the bankers to the deal, the term sheet added.
On February 18, 2015, Hero Motocorp closed at Rs 2663.45, down Rs 142.8, or 5.09 percent. The 52-week high of the share was Rs 3271.80 and the 52-week low was Rs 1907.00. The company's trailing 12-month (TTM) EPS was at Rs 123.37 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.59. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.50.
On February 18, 2015, Hero Motocorp closed at Rs 2663.45, down Rs 142.8, or 5.09 percent. The 52-week high of the share was Rs 3271.80 and the 52-week low was Rs 1907.00. The company's trailing 12-month (TTM) EPS was at Rs 123.37 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.59. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.50.
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