Hero Motors Ltd IPO

About Hero Motors Ltd

Our Company was incorporated in the name of `Hero Briggs & Stratton Auto Private Limited' as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated April 30, 1998, issued by the Registrar of Companies, Delhi and Haryana. Thereafter, our Company became a deemed public company, and the name of our Company was changed to `Hero Briggs & Stratton Auto Limited' with effect from August 25, 1998. Pursuant to the enactment of Companies (Amendment) Act, 2000 and by effect of Section 43A(2A) of the Companies Act, 1956, our Company was again converted into a private limited company with effect from June 1, 2001, and the name of our Company was accordingly changed to `Hero Briggs & Stratton Auto Private Limited'. Thereafter, pursuant to the termination of the joint venture agreement with Briggs & Stratton International Inc. (USA) in 2001, the name of our Company was changed to `Hero Auto Private Limited' and a fresh certificate of incorporation dated April 10, 2003, was issued by the Registrar of Companies, Delhi and Haryana. Subsequently, the name of our Company was changed to `Hero Auto Limited' upon conversion to a public limited company on October 30, 2003, pursuant to a fresh certificate of incorporation issued by the Registrar of Companies Delhi and Haryana. Further, pursuant to the fresh certificate of incorporation dated September 15, 2004, issued by the Registrar of Companies, Delhi and Haryana, the name of our Company was changed to `Hero Motors Limited' to reflect the true nature of the Company's business, which is the name of our Company as on the date of this Draft Red Herring Prospectus.

The mobility industry is experiencing a transformative shift across the globe due to the increasing electrification of vehicles, significantly impacting powertrain solutions such as motors, gearbox/transmission systems, and integrated e-drive units. EV penetration in motorcycles shall globally witness an upward trajectory from 1.4% in 2024 to 7% - 9% in 2029. The rise of e-bikes has been significant both in volume and value terms.

We are one of India's leading automotive technology companies engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions catering to automotive original equipment manufacturers (OEMs) in United States, Europe, India and the Association of Southeast Asian Nations (ASEAN) region. We are a fully integrated powertrain systems provider offering comprehensive solutions including services for designing, prototyping, validating, developing, and delivering system-level and component-level powertrain solutions for both electric as well as non-electric powertrains. Our offerings find application in two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy duty vehicles, and electric vertical take-off and landing (eVTOL) categories. We cater to requirements of our global customers such as BMW AG (BMW), Ducati Motor Holding S.P.A. (Ducati), Enviolo International Inc (enviolo), Formula Motorsport Ltd (Formula Motorsport), HUMMINGBIRDEV Inc. (Hummingbird EV), HWA AG (HWA) and leading global electric bicycle (e-bike) manufacturers and other mobility applications such as aerospace. We are among the few companies that address the requirements of the premium ICE and performance ICE segment that require high-performance transmission systems capable of handling tough torque needs while keeping components lightweight. We are a technology and innovation driven company and have made significant investments into our in-house design and engineering capabilities as well as forging technology partnerships with global players to enhance our expertise and product and service offerings.

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