Hero FinCorp to launch ₹4,000 crore IPO soon, here are complete details

The initial public offering will be launched as a combination of ‘fresh issue’ and ‘Offer for Sale’. It means the company will issue fresh shares for investors to buy and the selling of some shares that current shareholders own. As a result, all eyes will be on Hero MotoCorp shares during the trading sessions on Thursday.

Hero Fincorp is looking at its primary stake sale, which will include the fresh share component of ₹4,000, while the ‘offer for sale’ component is not yet confirmed.

The IPO decision was approved in a board of directors of Hero FinCorp Ltd (Hero FinCorp) meeting held on May 29, 2024, as per the company exchange filing with the bourses.

Hero FinCorp is a non-banking finance company specialising in consumer and commercial lending. It offers two-wheeler loans, advances for home purchases in the affordable segment, and education loans apart from financing SMEs (small and medium enterprises). With a presence in over 4,000 cities and towns in India, it has 2,000 retail financing touchpoints with Hero MotoCorp’s network.

Hero MotoCorp holds around 40% stake in Hero FinCorp. The promoters, the Munjal family, have a stake of around 35-39%, the remaining balance is owned by private equity investors like Credit Suisse, Apollo Global, ChrysCapital and certain Hero MotoCorp dealers.

Shares of Hero MotoCorp closed flat at ₹5,152 on Thursday. The market cap of the blue-chip two-wheeler maker stood at little more than ₹1.02 lakh crore in the previous close.

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