Hero Fincorp gives the green light for a Rs 4,000 crore IPO with a combination of fresh issue and offer for sale

Hero FinCorp, the financial services division of India's biggest two-wheeler manufacturer Hero MotoCorp, has given the green light to a Rs 4,000 crore IPO, as per a statement released by the company on May 29.

HFCL, a non-banking financial institution, mainly focuses on providing financial services to individual and business clients, offering various products such as two-wheeler loans, term loans, working capital loans, loans backed by property, bill discounting, leasing, and more.

The initial public offering will involve new equity shares being issued, as well as existing shareholders selling their equity shares.

Hero FinCorp stated that they want to let you know that the Board of Directors has discussed and agreed to the Initial Public Offering (IPO) of equity shares with a face value of ₹10 each during their meeting on May 29, 2024.