Hero FinCorp's pre-IPO round 2: Vattikuti Ventures invests Rs 50 crore, fresh issue size reduced to Rs 1,790 crore
Hero FinCorp, the parent Hero MotorCorp-owned NBFC, has raised Rs 50 crore from the venture capital firm Vattikuti Ventures, through the second pre-IPO round
The company has allotted 3.57 lakh shares to Vattikuti Ventures LLC, owned by American-Indian entrepreneur and philanthropist Raj Vattikuti, at a price of Rs 1,400 per share, which amounted to Rs 50 crore.
Accordingly, the fresh issue size of the Hero FinCorp IPO will be reduced by Rs 50 crore, and the revised fresh issue size will be up to Rs 1,790 crore.
At a price of Rs 1,400 per share, the subsidiary of Hero MotoCorp is valued at Rs 25,014 crore.
