Hero MotoCorp denies investment in Blu Smart mobility

Hero MotoCorp clarified that it has not participated in fund raising for e-mobility startup Blu Smart Mobility.

Aug 20, 2019 03:08 IST India Infoline News Service

Hero MotoCorp clarified that it has not participated in fund raising for e-mobility startup Blu Smart Mobility. 

Hero MotoCorp, India's largest two-wheeler maker, On August 19, post market hours clarified that it has not participated in fund raising for e-mobility startup Blu Smart Mobility.

As per a BSE press release the company mentioned "We wish to inform that over the past few days, Hero MotoCorp Ltd. has noticed a few reports in news media, stating "Hero MotoCorp has participated in fundraising for an e-mobility Startup Blu Smart Mobility". Hero MotoCorp Ltd. strongly denies any such participation and / or any investment made in Blu Smart Mobility. Further, it is clarified that Hero MotoCorp neither released any media report related to Blu Smart Mobility nor was consulted for the same by any agency or person. Hero MotoCorp Ltd. reserves its right to initiate appropriate legal action  against any entity/agency that indulges in spreading false information about the Company."

Hero MotoCorp Ltd ended at Rs2,632.75 down by Rs35.1 or 1.32% from its previous closing of Rs2,667.85 on the BSE.

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