Munjals To Receive Rs730 Crore As Dividends

By Suparna Chakaraborthy

Published: Friday, April 15, 2011, 16:24 [IST]

Company"s chief promoter, Munjals group, fetches Rs 730 crore from Hero Honda. The price of the dividend to the Munjals stood at Rs70 per share and the company headed by Brijmohan Lall Munjal is eligible for this amount of Rs730 crore dividend by way of the contributions from Hero Investments Pvt. Ltd.

The entity to avail this dividend to Munjals from Hero Honda came as a result of the purchase of 26% share following the exit Honda in the Hero Honda. Hero Investments and Munjal group has the combined possession of 10.42 crore shares in the Hero Honda accounting to 52.21%.

The formal split and the exit of Honda from the JV has enabled Hero Group to march towards a new horizon with new brand image and seeking the explorations in many overseas markets. Till it was in the JV, Hero group was constrained to enter into the export markets.

Article Published On: Friday, April 15, 2011, 16:14 [IST]

Read more on: #automobile #bikes #hero honda

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