<article>Private equity giant <a style="color: #000080" href="http://www.dealstreetasia.com/?s=bain+capital" target="_blank">Bain Capital</a> has exited its investment in <a style="color: #000080" href="http://www.dealstreetasia.com/?s=Hero+MotoCorp" target="_blank">Hero MotoCorp Ltd</a> by selling its entire 1.5 per cent stake in the company through a bulk deal.</article>

Private equity giant <a style="color: #000080" href="http://www.dealstreetasia.com/?s=bain+capital" target="_blank">Bain Capital</a> has exited its investment in <a style="color: #000080" href="http://www.dealstreetasia.com/?s=Hero+MotoCorp" target="_blank">Hero MotoCorp Ltd</a> by selling its entire 1.5 per cent stake in the company through a bulk deal.
The PE firm has sold its 2.95 million shares (1.49 per cent) for Rs 763 crore($114.9 million), almost doubling its four-years old investment in the firm.
In 2014, Bain Capital sold 2.8 per cent and 4.28 per cent stake in the company in June and November respectively.
In the newest deal, <a style="color: #000080" href="http://www.dealstreetasia.com/?s=Morgan+Stanley+Asia" target="_blank">Morgan Stanley Asia (Singapore) PTE</a> bought 1.69 million shares at Rs 2,590 each aggregating to Rs 437.7 crore, according to the NSE data.
Bain Capital originally invested Rs 2,500 crore in the motorcycles and scooters manufacturer Hero MotoCorp in 2011 along with Singapore’s sovereign wealth fund GIC.
After that, in 2013, the PE firm picked more stake in the company, making its total holding to 8.5 per cent.
Last year in November, <a style="color: #000080" href="http://www.dealstreetasia.com/?s=GIC+" target="_blank">GIC</a> also made a <a style="color: #000080" href="http://www.dealstreetasia.com/stories/singapores-gic-partially-exits-hero-motocorp-report-762/" target="_blank">part-exit</a> by selling about 1 per cent stake in the company for about $81.3 million through an open market transaction; and pocketing over 2X returns (in rupee terms) on its three-year-old investment.
Hero MotoCorp (formerly Hero Honda Motors Ltd), the world&#8217;s largest two-wheeler manufacturer, sells under the brands Splender, Hunk, Impulse, Ignitor among many others. Founded in 1983, New Delhi-based Hero MotoCorp operates as a subsidiary of Hero Group.
Shares of Hero MotoCorp were trading at Rs 2,681 each, up 0.01 per cent on BSE in a strong Mumbai market on Frida at 10.59 PM.
Bain Capital is one of the world’s leading private, alternative asset management firms, with approximately $75 billion in assets under management. In September this year, Bain Capital <a style="color: #000080" href="http://www.dealstreetasia.com/stories/private-equity-major-bain-capital-picks-up-5-stake-in-indias-lt-finance-holdings-for-107m-12996/" target="_blank">invested</a> in <a style="color: #000080" href="http://www.ltfinanceholdings.com/" target="_blank">L&amp;T Finance Holdings Ltd</a>, the financial services arm of the engineering major Larsen &amp; Toubro.
Also Read: 
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/india-tata-steel-sells-tata-motors-shares-worth-rs2500-crore-12881/" target="_blank">India: Tata Steel sells Tata Motors shares worth $376m</a>
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/apples-auto-ambitions-sideswipe-electric-motorcycle-startup-16258/" target="_blank">Apple’s auto ambitions sideswipe electric motorcycle startup</a>
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/motorcycle-taxi-app-go-jek-indonesia-launches-on-demand-delivery-service-13325/" target="_blank">Motorcycle taxi app GO-JEK Indonesia launches on-demand delivery service</a>

Private equity giant Bain Capital has exited its investment in Hero MotoCorp Ltd by selling its entire 1.5 percent stake in the company through bulk deal.

India: PE firm Bain Capital exits Hero MotoCorp for $115m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

India: PE firm Bain Capital exits Hero MotoCorp for $115m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief