Hero Investments to receive Rs.4500 cr as FDI

The Cabinet Committee on Economic Affairs on Tuesday approved the proposal of Hero Investments Private Limited to receive Foreign Direct Investment (FDI) amounting to Rs.4500 crore approximately in the investing company.

The FDI will be received from Bain Capital and Lathe Investment Private Limited.

Hero Investment Private Limited and Hero Group company have entered into Memorandum of Understanding with Honda Motors, Japan to acquire 26 per cent equity shares in Hero Honda Motors Limited from Honda Motors.

The proposal was recommended by Foreign Investment Promotion Board in February.