Hero Fincorp is a non-banking financial company (NBFC) that provides a wide range of Financial Products Primarily aimed at Retail Customers and Micro, Micro, Small, and Medium Enerprises (MSMES) India.
As of March 2024, The NBFC Had Total Assets Under Management (AUM) Amouncing to 51,821 Crore, with retail and msme lending segments account for 65 percent and 21 percent, responsible. Since Its Establishment in 1991, The company has expanded its customer base to 1.18 Crore as of March 2024.
IPO Details
Hero Fincorp IPO CONSISTS of a New Issuance of Equity Shares Valied at 2,100 Crore along with an offer for sale (ofs) of 1,568 Crore from Investor Sharehlders, as stated in the draft red herring principal (DRHP).
The shareholders participating in the ofs include ahvf II Holdings Singapore II PTE. Ltd, APIS Growth II (Hibiscus) PTE. Ltd, Link Investment Trust (Repired by Vikas Srivastava), and Otter Ltd.
According to Recent Updates, Hero Fincorp, which submitted its initial IPO documents to sebi in August, received its observations on May 22.
In the terminology used by sebi, receiving observations Signifies Approval to Proceed with the Public Offering.
As indicated in the draft documents, the funds raised from the new issue will be utilized to bolster the company’s capital to accommodate upcoming financials requirements for lending activities.
The book running lead managers for the anticipated IPO are JM Financial Ltd, Bofa Securities India Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICCUTIES LTD, JECURITES LTD, JEFFREITES LTD India Private Ltd, and SBI Capital Markets Ltd.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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