Hero FinCorp approves ₹4,000 crore IPO: What we know about the issue - Hindustan Times
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Hero FinCorp approves 4,000 crore IPO: What we know about the issue

By | Edited by Mallika Soni
May 30, 2024 11:01 AM IST

Hero FinCorp IPO: The IPO will include a fresh issue of equity shares along with an offer for the sale of equity shares.

Hero FinCorp Ltd (HFCL)- subsidiary of Hero MotoCorp Ltd- said its board of directors approved a 4,000 crore Initial Public Offering (IPO) of equity shares with a face value of 10 each. Hero FinCorp said, “This is to inform you that the Board of Directors of the Company in their meeting held on May 29, 2024, has considered and approved the Initial Public Offering (IPO) of the equity shares of face value of 10 each.”

Hero FinCorp IPO: Hero MotoCorp owns around 40 per cent stake in Hero Fincorp while promoters Munjal family hold around 35-39 per cent.
Hero FinCorp IPO: Hero MotoCorp owns around 40 per cent stake in Hero Fincorp while promoters Munjal family hold around 35-39 per cent.

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The IPO will include a fresh issue of equity shares along with an offer for the sale of equity shares.

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The company said that the IPO “comprises of a fresh issue of equity shares aggregating up to 40,000 million and an Offer for Sale of Equity Shares by certain existing and eligible shareholders of the company.”

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The company offers two-wheeler financing, advances for buying homes in the affordable housing segment, loans for education and to the small and medium enterprise sector. It has presence in over 4,000 cities and towns across India and nearly 2,000 retail financing touchpoint.

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Hero MotoCorp owns around 40 per cent stake in Hero Fincorp while promoters Munjal family hold around 35-39 per cent. The balance is held by private equity investors like Apollo Global, ChrysCapital and Credit Suisse.

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