NEW DELHI: Hero FinCorp, the financial services arm of Hero MotoCorp , has secured Sebi's approval for its Rs 3,668 crore Initial Public Offering ( IPO ), as indicated in the markets regulator's update on Wednesday.
The public offering will include a fresh issue of shares worth Rs 2,100 crore and an offer for sale (OFS) of Rs 1,568 crore by existing investors, according to the Draft Red Herring Prospectus (DRHP).
The OFS participants include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.
The company, which submitted its preliminary IPO documents to Sebi in August, received observations on May 22, according to PTI.
Sebi's issuance of observations indicates its authorisation for the public issue launch.
According to the draft documents, the fresh issue proceeds will be utilised to strengthen the company's capital base for future lending operations.
Hero FinCorp operates as an NBFC, providing various financial products primarily serving retail, micro, small and medium enterprise (MSME) customers in India.
The NBFC reported assets under management (AUM) of Rs 51,821 crore as of March 2024, with retail and MSME loan segments contributing 65 per cent and 21 per cent, respectively. The company's customer base has expanded to 1.18 crore as of March 2024 since its establishment in 1991.
The IPO's book running lead managers include 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 plans to list its equity shares on both BSE and NSE.
The public offering will include a fresh issue of shares worth Rs 2,100 crore and an offer for sale (OFS) of Rs 1,568 crore by existing investors, according to the Draft Red Herring Prospectus (DRHP).
The OFS participants include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.
The company, which submitted its preliminary IPO documents to Sebi in August, received observations on May 22, according to PTI.
Sebi's issuance of observations indicates its authorisation for the public issue launch.
According to the draft documents, the fresh issue proceeds will be utilised to strengthen the company's capital base for future lending operations.
Hero FinCorp operates as an NBFC, providing various financial products primarily serving retail, micro, small and medium enterprise (MSME) customers in India.
The NBFC reported assets under management (AUM) of Rs 51,821 crore as of March 2024, with retail and MSME loan segments contributing 65 per cent and 21 per cent, respectively. The company's customer base has expanded to 1.18 crore as of March 2024 since its establishment in 1991.
The IPO's book running lead managers include 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 plans to list its equity shares on both BSE and NSE.
You may also like
Spice Girls make £600,000 in record sales ahead of rumoured world tour
In touch with authorities in Iran to locate missing Indian men: MEA
'It's like magic': Vogue Williams on mess-free fake tan and the skin 'disaster' behind her brand
Thousands of households urged to check if they can get £200 cost of living cash
Centre gets notice over CRPF constable's termination after marriage to Pak national
