launched its operations in Bangladesh through a Joint Venture (JV) with the reputed Nitol Niloy Group.

Hero will hold majority stake of 55 per cent in the new JV while the Nitol Niloy Group will hold the rest 45 per cent stake. There will be a total equity injection of US$ 12.6 million in a ratio of 55:45 over a period of two years. The new venture will have a CAPEX of US$ 23.2 million in the first year of its operation (Financial Year 2014-15) and a total investment of US$40 million over the next five years.

While the manufacturing plant will be operational by the second quarter of FY 2015-16, the Hero range of two-wheelers are already being made available in Bangladesh through the initial 50 retail outlets. Mr. Munjal today inaugurated the first of the flagship Hero showrooms in Dhaka. More outlets are also being rapidly added in markets across the country.

The range of Hero two-wheelers being made available in the country include successful models like the entry-level segment 100cc bikes- HF Dawn & HF Deluxe, Splendor+, Splendor Pro, Splendor iSmart, Passion Pro, the deluxe segment 125cc Super Splendor and Glamour and the premium segment 150cc Xtreme and Hunk, and the 100-cc scooter Pleasure.

Hero has launched an unprecedented 5-year warrantyPawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd. -

Abdul Matlub Ahmad, Chairman, Nitol Niloy Group of Companies -

Source: Hero MotoCorp