The IPO will be a combination of a fresh issue and an offer for sale (OFS) to certain existing and eligible shareholders of the company.
"The meeting of the board of directors of the company held on May 29, 2024 has approved an IP with shares having face value of Rs 10 each," Hero Fincorp said in a statement.
It further said, "The IPO consists of an offer for sale of equity shares up to Rs 40,00 million and equity shares by certain existing and eligible shareholders of the company."
Hero Fincorp is an NBFC company. It provides loans for two-wheelers, affordable housing, education, small and medium industries etc. The company is present in more than 4,000 cities and towns.
Hero MotoCorp holds about 40 percent stake in Hero Fincorp. About 30 to 35 percent stake is with the Munjal family. The remaining stake is held by investors such as Apollo Global, ChrisCapital, Credit Suisse and some dealers of Hero MotoCorp.
At 1:00 pm, Hero MotoCorp was up 0.04 per cent at Rs 5,146 per share. The market capitalization of the company is around Rs 1.03 lakh crore.
"The meeting of the board of directors of the company held on May 29, 2024 has approved an IP with shares having face value of Rs 10 each," Hero Fincorp said in a statement.
It further said, "The IPO consists of an offer for sale of equity shares up to Rs 40,00 million and equity shares by certain existing and eligible shareholders of the company."
Hero Fincorp is an NBFC company. It provides loans for two-wheelers, affordable housing, education, small and medium industries etc. The company is present in more than 4,000 cities and towns.
Hero MotoCorp holds about 40 percent stake in Hero Fincorp. About 30 to 35 percent stake is with the Munjal family. The remaining stake is held by investors such as Apollo Global, ChrisCapital, Credit Suisse and some dealers of Hero MotoCorp.
At 1:00 pm, Hero MotoCorp was up 0.04 per cent at Rs 5,146 per share. The market capitalization of the company is around Rs 1.03 lakh crore.
