According to the sources familiar with the matter, Yogesh Munjal, a member of the family that owns 29% of Hero Honda has recently shed its stake in Hero Honda for the stake in the component maker firm of the group, Munjal Showa.

Munjal, who is the MD of the firm is believed to be quit the Hero stake while the other members of the family will quit their stake in Munjal Showa.

In fact, signaling a wider untangling of cross-holdings, it is believed that the activity is an attempt to bring the stakes in one big umbrella.

Sunil Kant Munjal, a director in Hero Honda and one of the sons of family patriarch Brijmohan Lall Munjal as well as Yogesh Munjal refused to comment, an investment banker working closely with the Munjal family said that the stake that was held by Yogesh Munjal in various Hero Group companies will be passed on to the other family members while the same and vice versa.

It may be noted here that the deal is in picture a week after Hero Cycles sold its 8.67% stake in Hero Honda to Hero Investments, a group holding company.