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Hero Fincorp looks to raise Rs 3,668 crore via IPO

The offers contains fresh issue of shares worth Rs 2,100 crore. The financial services division of two-wheeler manufacturer, Hero MotoCorp, will also raise Rs 1,568 crore through an Offer For Sale (OFS), according to the Draft Red Herring Prospectus (DRHP).

Those selling shares in the OFS are — AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.

Proceeds from the fresh issue will be used to increase the company’s future capital for onward lending, according to the company.

https://www.moneycontrol.com/news/business/ipo/hero-fincorp-looks-to-raise-rs-3668-crore-via-ipo-12784110.html