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Excl: Munjals may buy 15-21% stake in Pipavav Defence

Pawan and Sunil Munjal, the promoters of India’s largest motorcycle company Hero MotoCorp, are likely to pick up 15-21 percent stake in Pipavav Defence, sources have told CNBC-TV18.

Pawan and Sunil Munjal, the promoters of India’s largest motorcycle company Hero MotoCorp , are likely to pick up 15-21 percent stake in Pipavav Defence , sources have told CNBC-TV18’s Sonia Shenoy.

The Munjals, it is learnt, are in talks with a private-equity firm to jointly ink the deal, and that due diligence over it is currently taking place.

The move, CNBC-TV18 learns, comes in wake of the talks between automotive powerhouse Mahindra & Mahindra  falling through.

When contacted, the Hero promoters said they do not comment on market speculation.

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