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Bain Capital selling $200 mln of shares in India’s Hero MotoCorp -Reuters

(Reuters) – U.S. private investment firm Bain Capital is selling $200 million worth of shares in India’s Hero MotoCorp Ltd, with an option to sell more, according to a term sheet seen by Reuters.

Bain Capital is selling nearly 4.3 million shares in India’s biggest maker of motorcycles and scooters at a price range of 2,859.58 rupees to 2,963.30 rupees, the term sheet showed.

The Bain Capital arm selling the stake owned about 11.5 million shares of Hero MotoCorp as of end-September, or about 5.77 percent, according to Indian stock exchange data.

Indian markets were closed on Thursday for a holiday.