Hero MotoCorp board clears Rs 450-cr investment in Hero FinCorp Ltd

The country's largest two-wheeler maker Hero Moto Corp on Tuesday said its board has approved an investment of up to Rs 450 crore in its associate company Hero FinCorp Ltd (HFCL).

The company's board has considered and approved an investment of up to Rs 450 crore in HFCL by subscribing to the issue of shares by way of private placement in one or more tranches, Hero MotoCorp said in a regulatory filing.