Hero FinCorp said that it has filed preliminary papers with capital markets regulator SEBI to raise Rs 3,668 crore through an Initial Public Offering (IPO), according to media reports. Funds from fresh issues will be used to increase the company's capital to meet future funding needs for lending activities, as per media reports.
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, as per media reports.
The companies selling shares in the OFS are AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte., Link Investment Trust (through Vikas Srivastava) and Otter, stated media reports.
The book-running lead managers of the proposed IPO, as per media reports, are JM Financial Ltd, BofA Securities India, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities, Jefferies India, and SBI Capital Markets, according to media reports.
If we talk about Hero FinCorp, is an NBFC offering diversified financial products primarily to the retail, micro, small, and medium enterprise (MSME) customer segments in India, as per media reports.
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, according to media reports.
