MUMBAI: Retail-focused non-bank lender Hero Fincorp, the financial services arm of the world’s largest two-wheeler maker Hero Motorcorp, has filed the final papers with the markets regulator Sebi seeking to raise Rs 3,688 crore, marginally lower than it had initially planned.
When it had filed the initial papers with the regulator in May it had said it would raise Rs 4,000 crore from the primary issue which would comprise a fresh issue and an offer for sale.
The offers contains fresh issue of shares worth Rs 2,100 crore and the Rs 1,568 crore through an offer for sale, according to the Draft Red Herring Prospectus (DRHP) filed with the Sebi Thursday.
Hero Fincrop offers a diversified suite of financial products catering primarily to the retail, micro, small and medium enterprise customer segments as well as home loans and insurance.
Those selling shares in the OFS are AHVF II Holdings Singapore, Apis Growth II (Hibiscus), Link Investment Trust (through Vikas Srivastava) and Otter, the company said, but it did offer details such as their present shareholding or how much they will be diluting thorough the secondary sale route.
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