Hero Group To Sell 29 Pc Stake In HIPL For Rs 3,650 Cr
Hero Investments Pvt Ltd (HIPL) which is promoter firm of the India's largest two-wheeler maker-Hero Honda is to buy 29 per cent stake by paying Rs. 3,650 crore. With it, the HIPL...
Hero Investments Pvt Ltd (HIPL) which is promoter firm of the India's largest two-wheeler maker-Hero Honda is to buy 29 per cent stake by paying Rs. 3,650 crore. With it, the HIPL is the major share holder in the Hero Honda group and has 17.33 per cent stake in the joint venture as on 31st December 2010.
At the starting of this month, the company had tied-up with Private Equity firms Lathe Investment Pvt Ltd which is fully subsidiary of Government of Singapore Investment Corporation (Ventures) Pvt Ltd and BC India Private Investors II, an arm of Bain Capital LLC. As per insiders of the company, both the companies will equally invest around Rs. 3,650 crore for 29 per cent stake in the Hero Investments and 43.33 per stake of Honda in the joint venture Hero Honda will be grabbed by the companies. And already Foreign Investment Promotion Board (FIPB) has recommended the proposal to the cabinet committee to the approval with investment of around 1,200 crore.
Earlier, it has been announced that Hero Group which is owned by BM Munjal Family is to pay Rs 3,841.83 crore to Honda for its 26 per cent stake in the Hero Honda Joint venture and for it, HIPL will finance for this big payout.
Noted that Hero Honda Group which includes most popular bikes in its portfolio such as Hero Honda Karizma, Hero Honda Hunk, Hero Honda CBZ Xtreme, Hero Honda Splendor, Hero Honda Passion Pro and one scooter Hero Honda Pleasure had gone separate ways with announcement of buying Honda's 26 per cent stake in the venture.
Now both the firms shall work with their own resources therefore Hero Group to launch its bikes in India while Honda to spread wings through HMSI which is a 100 per arm of it and doing well.
Hero Splendor Plus User Reviews
- Too love the bikeThe bike is very nice and I love this bike. I like this bike's performance and comfort. This bike's suspension are very soft and works well. Seat is so comfortable. Overall a nice bike. I love this bike.Read More14 2
- Reliable and low maintenance bike for daily useBecause it's a simple bike with professional look and low maintenance cost. It has a simple and professional design and is comfortable for daily uses. It is also easy to handle in city traffic and suitable for regular commuting and everyday rides. Its riding experience has been good so far and also this bike feels comfortable and easy to handle, especially during daily city rides. The mileage is satisfactory, the performance is smooth, and the seating position is comfortable for regular use. Yes, because it comes with very low maintenance cost and good average bike and good looking a very simple and practical motorcycle for daily use. It offers good mileage, comfortable riding, easy handling. The professional design is also a plus point for the rider.Read More137 63
- MIND-BLOWINGThis is really good for villagers and middle class family, thankyou hero tum hi ek matra aise service dete ho, koi bhi nhi deta hai, Kya service hai ek shabd me bole to amazing, mai ek gaanv se hoon aur ye gaanv me bahut hi jyada popular bike hai, kitno ko hamne suggestions bhi diye hai ye bike khardne ke liye, mileage bhi acha hai.Read More132 51
- review of bike.Splendor is a good bike for daily commuters as it delivers a good mileage and smooth performance. In one word, a buget king or mileage king. Moreover maintainance is also low, parts are easily available in market. I will recommend this bike for all the office commuter as well as for local users. Overall nice bike.Read More126 80
- Hero Splendor Plus – The Everyday HeroMany people choose the hero splendor plus because it is practical and reliable commuter motorcycle. Excellent mileage around 65-70 kilometre per litre. Comfortable riding. Low maintenance and spare parts are widely available. I am happy with this bike. Easy to ride, light weight and very easy to handle. It is comfortable for beginners and city traffic. Hero has a large service network across India. Making repairs and servicing convenient. Budget friendly bike for everyday use. Yes, I would recommend hundred percent. It is trusted brand. Good resale value and easy to ride. It's engine is known for long term durability, mileage is good. Upright seating position and good suspension for daily riding.Read More125 78