Hero FinCorp IPO: Rs 3,668 Crore Fundraise
By Rediff Money Desk, New Delhi Aug 01, 2024 11:15
Hero FinCorp, a financial services arm of Hero MotoCorp, files IPO papers with SEBI to raise Rs 3,668 crore, including a fresh issue and an OFS. The IPO proceeds will be used to bolster lending activities.
New Delhi, Aug 1 (PTI) Hero FinCorp, the financial services division of two-wheeler manufacturer, Hero MotoCorp, has filed preliminary papers with capital markets regulator 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, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Those selling shares in the OFS are -- AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.
Proceeds from the fresh issue will be used to increase the company's capital to meet future funding needs for lending activities.
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.
As of March 2024, the NBFC firm had assets under management (AUM) of Rs 51,821 crore, of which retail and MSME loan verticals contributed 65 per cent and 21 per cent, respectively. Since the company's inception in 1991, its customer base has grown to 1.18 crore as of March 2024.
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 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.
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, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Those selling shares in the OFS are -- AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.
Proceeds from the fresh issue will be used to increase the company's capital to meet future funding needs for lending activities.
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.
As of March 2024, the NBFC firm had assets under management (AUM) of Rs 51,821 crore, of which retail and MSME loan verticals contributed 65 per cent and 21 per cent, respectively. Since the company's inception in 1991, its customer base has grown to 1.18 crore as of March 2024.
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 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.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.75 ( -2.27)
- 42067941
- Srestha Finvest
- 0.73 ( -1.35)
- 41047081
- G G Engineering
- 1.36 ( 0.00)
- 21064560
- AvanceTechnologies
- 0.80 ( -2.44)
- 17877416
- Guj. Toolroom Lt
- 14.71 ( -4.97)
- 17467253
MORE NEWS
Indichip Semiconductors to Set Up Rs 14,000 Cr...
Indichip Semiconductors and Yitoa Micro Technology will establish India's first private...
D-Mart Appoints New CEO, Noronha to Step Down...
Avenue Supermarts, owner of D-Mart, has announced Anshul Asawa as CEO Designate,...
D-Mart Q3 Net Profit Rises 4.8% to Rs 723.5 Crore
Avenue Supermarts, owner of D-Mart, reported a 4.8% increase in net profit to Rs 723.54...