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The Economic Times
The Economic Times
Akash Podishetti

Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO

Hero Motors IPO India United States

Hero Motors has raised Rs 300 crore from anchor investors ahead of its IPO, which opens for public subscription on September 16. The company allotted 3.57 crore equity shares to anchor investors at Rs 84 per share, the upper end of its IPO price band. Prashant Jain’s 3P India Equity Fund was among the investors that participated in the anchor book.

Other marquee investors in the anchor round included ICICI Prudential Life Insurance Company, Edelweiss Life Insurance Company, Societe Generale – ODI and ASAS Global Fund Incorporated VCC Sub Fund. Among equity-oriented schemes, Hero Motors allocated shares to ICICI Prudential Smallcap Fund, Kotak MNC Fund and JM Flexi Cap Fund, among others.

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