Bain launched the deal to sell 2.98 million Hero shares late yesterday in the indicative price band of between 2,570 rupees and 2,600 rupees each.

A spokesman for Hero which sells about one in every two motorbikes in India, mainly in the countryside, could not immediately be reached. An external spokesman for Bain Capital in India did not immediately reply to a request seeking comment.
Hero shares ended 0.3 percent higher yesterday at 2,645.35 rupees. The Indian markets are shut today for a holiday.
Morgan Stanley is the sole book runner for the deal.

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