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Hero FinCorp files Rs 3,668 crore IPO papers with SEBI

05 Aug 2024 Evaluate

Hero FinCorp, the financial services division of two-wheeler manufacturer, Hero MotoCorp, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 3,668 crore through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 2,100 crore and an Offer For Sale (OFS) of Rs 1,568 crore by investor shareholders.

Proceeds from the fresh issue will be used to increase the company's capital to meet future funding needs for lending activities. JM Financial, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India and SBI Capital Markets are the book running lead managers of the proposed IPO. The equity shares of the company are proposed to be listed on the BSE and NSE.

Hero FinCorp is a NBFC offering a diversified suite of financial products catered primarily to the retail, micro, small and medium enterprise (MSME) customer segments in India.


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