Morgan Stanley, Birla MF pick up Bain Capital's stake in Hero Motocorp

Morgan Stanley and Birla Sun Life are among the houses that have emerged as buyers for Hero MotoCorp shares that were offloaded by Bain Capital.

The US-based private equity firm sold 2.75 million shares at Rs 2,591 apiece through block transactions in the two-wheeler major on Thursday to raise around Rs 712 crore.

The biggest chunk of nearly 1.7 million shares for Rs 438 crore was bought by Morgan Stanley. Birla Sun Life Mutual Fund bought around 0.64 million shares for Rs 166 crore through its various schemes.

ICICI Prudential and JP Morgan also picked up shares worth Rs 39 crore and Rs 29 crore respectively, block deal data provided by NSE showed. Morgan Stanley was also the lead manager for the transaction.