Hero Electric is in search of strategic or financial investors to raise nearly $250 million (around Rs 2,000 crore) to fund its expansion plans, a senior company executive said.
“We are looking at raising close to $250 million by September this year. For this, we are open to having on board either a financial investor or a strategic investor who can bring some technical expertise,” Sohinder Gill, CEO, Hero Electric, told Business Standard.
He said the quantum of stake dilution would depend on valuation. India’s oldest two-wheeler EV maker is not looking for mergers and acquisitions.
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