Hero FinCorp Ltd (HFL), an associate company of Hero MotoCorp Ltd, plans to float an initial public offering (IPO) aggregating to at least ₹4,000 crore.
Besides fresh issue of shares aggregating ₹4,000 crore (with face value of ₹10 each) through an IPO, there will also be an offer for sale (OFS) by certain existing and eligible shareholders as part of the offering.
The proposed IPO — which received HFL’s board approval on Wednesday — is subject to market conditions, receipt of applicable approvals, regulatory clearances and other considerations, according to stock exchange filings by Hero MotoCorp.
HFL, which is a non-banking finance company, is involved in activities such as two-wheeler financing, term loans, working capital loans, loans against property, bill discounting, leasing, etc.