Hero FinCorp, the financial services division of Hero MotoCorp, has filed initial papers with capital markets regulator Sebi to raise Rs 3,668 crore through an Initial Public Offering (IPO).
According to the Draft Red Herring Prospectus (DRHP) filed on Wednesday, the IPO will include Rs 2,100 crore from a fresh issue of equity shares and Rs 1,568 crore through an Offer For Sale (OFS) by existing investor shareholders.
The entities participating in the OFS include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava), and Otter Ltd. The proceeds from the fresh issue will be utilized to boost the company’s capital for future lending needs.
