Hero Motors Withdraws ₹900 Crore IPO

Hero Motors Ltd., part of the Hero Motors Company Group, has officially withdrawn its draft red herring prospectus (DRHP) for a ₹900 crore initial public offering (IPO). The company initially intended to raise ₹500 crore through new equity issuance and ₹400 crore via a promoter-led offer for sale. As per a filing with SEBI on October 5, 2024, Hero Motors did not provide a specific reason for the withdrawal.