Hero FinCorp, the financial services arm of Hero MotoCorp, has successfully raised ₹260 crore in a pre-IPO placement round.
The funding has led to a revision in the fresh issue size from ₹2,100 crore to ₹1,840 crore.
This revised figure is part of a larger initial public offering (IPO) that now totals ₹3,408 crore.
Revised IPO size includes ₹1,568 crore OFS
The revised IPO size also includes a ₹1,568 crore offer-for-sale (OFS) by existing investors.
The companies selling shares in this OFS are AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava), and Otter Ltd.
On June 5, Hero FinCorp signed investment agreements with 12 investors during the pre-IPO round.
18.57 lakh shares allotted at ₹1,400 per share
Hero FinCorp allotted 18.57 lakh shares at ₹1,400 per share on June 13. The company raised ₹259.99 crore through this exercise.
Major beneficiaries included Shahi Exports (₹69 crore), RVG Jatropha Plantation (₹50 crore), Mohan Exports (₹25 crore), and AP Properties (₹22 crore).
Other participants in the round were Vivek Chaand Sehgal, Paramount Products, Tiger Laser Pte., Virender Uppal, Laksh Vaaman Sehgal, Renu Sehgal Trust, Yugal Chit Fund, and LC Hercules (Cayman).