Hero FinCorp, a financial arm of Hero MotoCorp, plans a Rs 4,000 crore IPO. Approved on May 29, it includes fresh shares and an Offer For Sale.
The IPO will combine a fresh issue of shares and an Offer For Sale by existing shareholders. The target size is around Rs 4,000 crore.
Hero FinCorp provides diverse financial services like two-wheeler financing, home loans, education loans, and SME lending across 4,000 cities.
With presence in over 4,000 cities, Hero FinCorp has 2,000 retail financing touchpoints within Hero MotoCorp's network.
Hero FinCorp has shortlisted eight investment banks to manage its Rs 4,000 crore IPO, slated for 2024.
Hero MotoCorp owns 40% of Hero FinCorp, Munjal family holds 35-39%, and the rest by private equity investors like Apollo Global and ChrysCapital.