Besides Oyo, Ola,?Tata Technologies, Swiggy, and?ITC Hotels?already among the big guns getting ready to?launch their?IPOs, investors are set to witness another big IPO coming up. India's largest two-wheeler maker,?Hero MotoCorp's financial arm, Hero Fincorp,?is busy in the process of launching its IPO soon.
Hero Fincorp is the financial services arm of India's largest two-wheeler maker, Hero MotoCorp.?Hero FinCorp is an Indian non-banking financial company currently engaged in consumer finance businesses and commercial lending. Hero Fincorp's lending products include unsecured business loans, loans against property, used car loans, two-wheeler loans, instant personal loans, and home loans.
The company was launched in 1992 as Hero Honda Finlease Ltd. by extending working capital loans and medium-term finance to component suppliers and dealers of parent firm Hero MotoCorp, then called Hero Honda Motors Ltd.
In 2011, as Hero Honda Motors was restructured, the company was renamed Hero FinCorp and acquired its present form.?
Also Read:?Tata Sons To Go For?IPO?By Sept 2025, All You Need To Know
While the date has not been announced yet, it is expected that the financial arm of Hero MotorCorp could launch its mega-IPO?in early 2024.?
The targeted size of the?proposed?IPO?is around Rs 4,000 crore, but that may vary later depending on market conditions and share sale strategies of the investors, one of the two persons aware of the matter said, as per the Moneycontrol report.
Hero FinCorp has shortlisted a syndicate of as many as eight investment banks to launch a mega initial public offer in 2024, multiple industry sources said.
"This is a big listing in the works. JM Financial, Bofa Securities, Jefferies, ICICI Securities, HSBC Securities, UBS, SBI Capital, and HDFC have been selected as the advisors," one of the persons above told Moneycontrol.?
Two other persons confirmed the list of i-bankers and added that the proposed issue would be a combination of primary and secondary issuance of shares, which would mop up growth capital and provide an exit for some of the investors. It is not yet clear if more banks will be added later to the deal.??
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