Hero MotoCorp Ltd promoter Hero Group today divested four per cent stake for an estimated over Rs 1,800 crore in the company to fund diversification into 'new growth avenues'.
Elaborating on the funds' use, the statement said: "The group will use the sale proceeds to fund new growth avenues available through the government's 'Make in India' initiative."

Source - Hero Group sells 4% stake in Hero MotoCorp for over Rs 1800 cr | Business Standard News