Hero Motors files DRHP for Rs 900 crore-IPO

Hero Motors, managed by Pankaj Munjal, has filed a Draft Red Herring Prospectus for a Rs 900 crore IPO. The IPO aims to raise funds through a fresh issue of Rs 500 crore and an offer for sale of Rs 400 crore. The proceeds will be used for clearing borrowings and expanding the Noida facility.