Hero FinCorp Gears Up For IPO; Aims To Raise ₹4000 Cr In Fresh Capital

Hero FinCorp Gears Up For IPO; Aims To Raise ₹4000 Cr In Fresh Capital

Hero FinCorp is a subsidiary of Hero MotoCorp that offers financial services to customers and businesses i.e customer finance and commercial lending.

Oliviya KunjumonUpdated: Thursday, May 30, 2024, 03:45 PM IST
article-image
IPO/ Representative Image | Freepik

Hero MotoCorpLimited, India's largest two-wheeler manufacturer on Thursday, May 30, through an exchange filing announced that its financial service division, Hero FinCorp Limited, has received greenlight from the Board of Directors during the meeting held today to embark on an Initial Public Offering (IPO).

The IPO planned by the Hero Fincorp involves two components. First, the fresh issue, which entails the issuance of new shares by the company, aiming to raise funds by offering these fresh shares to investors and the second, offer sale, where certain existing shareholder of the company will offer their shares as part of the IPO and these shareholders will have opportunity to sell a portion of their holdings to interested investors.

As per the regulatory filing, the IPO is structured to include a fresh issue of equity shares with a face value of Rs 10 each and the aggregate value of the fresh issue is set at Rs 40,000 million.

Share performance

The shares of Hero MortoCorp on Thursday at 3:30 pm IST were at Rs 5,152.00, up by 0.16 per cent.

About Hero FinCorp Limited

Hero FinCorp is a subsidiary of Hero MotoCorp that offers financial services to customers and businesses i.e customer finance and commercial lending.

In customer finance division it offers a wide range of services like facilitating loans for Hero MotoCorp Two Wheelers, providing Loyalty Customer Loans, offering top-up loan options to existing customers, and extending Loans against Property.

RECENT STORIES

FPIs Invest ₹15,352 Crore In Equities In First Two Weeks Of July

FPIs Invest ₹15,352 Crore In Equities In First Two Weeks Of July

'Welcome To The Roast Of Zomato': Delivery Company Holds A Self-Roasting Show Featuring Rival...

'Welcome To The Roast Of Zomato': Delivery Company Holds A Self-Roasting Show Featuring Rival...

Elon Musk Raises Alarm After Trump Shooting, Says People Have Tried To Kill Him

Elon Musk Raises Alarm After Trump Shooting, Says People Have Tried To Kill Him

Next Round Of India-Korea FTA Review Meeting From July 17 In Seoul

Next Round Of India-Korea FTA Review Meeting From July 17 In Seoul

'SS Leadership Must Resign': Elon Musk Attacks US Secret Service Over Donald Trump Firing, Calls...

'SS Leadership Must Resign': Elon Musk Attacks US Secret Service Over Donald Trump Firing, Calls...