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HSA Advocates advised Hero Electric Vehicles on raising funds from Alpha Capital Advisors

NEW DELHI, 11 December, 2018: In its maiden fund raising from outside the Munjal Family, India’s largest electric scooter maker Hero Electric Vehicles Private Limited, which has 45% share of the country’s electric two-wheeler market, has raised ₹160 crore from Mumbai-based portfolio manager, Alpha Capital Advisors Private Limited and Mauritius based fund V’Ocean Investments Ltd., to build its second factory, develop new products, acquire new technology and expand dealer network.

Alpha Capital Advisors Private Limited and V’Ocean Investments Ltd. has jointly acquired 22% stake in Hero Electric Vehicles Private Limited by way of primary subscription of Equity Shares and Compulsory Convertible Debentures.

HSA Advocates advised Hero Electric Vehicles Private Limited and Promoters including Mr. Vijay Munjal, Mr. Naveen Maunjal and Mr. Gaurav Munjal on all aspects of the transaction and was led by Aparajit Bhattacharya (Senior Partner), Harvinder Singh (Partner), along with Devika Chadha (Associate Partner) and Deepti Gianchandani (Associate).

Cyril Amarchand Mangaldas was the legal counsel for Alpha Capital Advisors Private Limited and V’Ocean Investments Ltd., Steer Advisors was the Investment Banker and Three Comma Financial Consultancy, Dubai was the Financial advisor for Hero Electric Vehicles Private Limited.   

Contact Information

  • Name: Minakshi Saini

    Company: HSA Advocates

    Telphone: ,

    Address: 81/1, Adchini, Sri Aurobindo Marg, New Delhi – 110017 | T:+91 11 6638 7000 | F:+91 11 6638 7099 | D:+91 11 6638 7073