Hero Cycles exits Hero Honda Motors

Hero Honda Motors Ltd, the country's largest manufactures of two wheelers, on monday informed the Bombay Stock Exchange (BSE) that the Indian promoter group of the company that comprises Hero Investments Pvt. Ltd and Hero Investments Pvt Ltd (HIPL), Bahadurchand Investment Pvt Ltd, and Hero Cycles Ltd have realigned their shareholding in the company. The Three firms collectively hold 26% of the paid up share capital of the company.

Under the movie, which follows a family arrangement announced by the group earlier this monthm, Hero Cycles has transferred its entire stake to HIPL Consequently, The Indian promoter group of the company now comprise HIPL Consequently, owned and controlled entirely by the Munjal family headed by Brijmohan Lall Munjall, chairman of Hero Honda Motors.