Hero FinCorp Launches Rs 3668 Crore IPO: Major Financial Play by Hero MotoCorp’s Arm

Hero FinCorp, the financial services arm of two-wheeler giant Hero MotoCorp, has officially filed with the Securities and Exchange Board of India (SEBI) to raise Rs 3,668 crore through an Initial Public Offering (IPO). The proposed IPO will consist of a fresh issue of equity shares valued at Rs 2,100 crore and an Offer For Sale (OFS) amounting to Rs 1,568 crore by existing investors, as outlined in the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

 Hero FinCorp Launches Rs 3668 Crore IPO

Hero FinCorp Launches Rs 3668 Crore IPO

The OFS will include shares sold by AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava), and Otter Ltd.

The funds raised from the fresh equity issue are intended to bolster Hero FinCorp’s capital base, supporting future lending activities.

NBFC, Hero FinCorp Launches Rs 3668 Crore IPO

Hero FinCorp, a non-banking financial company (NBFC), provides a wide range of financial products, focusing mainly on retail customers and micro, small, and medium enterprises (MSMEs) in India. As of March 2024, the company’s assets under management (AUM) stood at Rs 51,821 crore, with retail and MSME loans accounting for 65% and 21% of this total, respectively. Since its establishment in 1991, Hero FinCorp has built a customer base of 1.18 crore.

The book running lead managers for the IPO are JM Financial Ltd, BofA Securities India Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd, Jefferies India Private Ltd, and SBI Capital Markets Ltd. The company’s equity shares are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

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  1. Groww Account- https://app.groww.in/v3cO/kyrp1zph
  2. Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906

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