Hero Fincorp Unlisted Shares
Hero FinCorp gets SEBI approval to launch Rs 3,668-crore IPO
Money Control
2 min read
Hero FinCorp Gets SEBI Nod for Rs 3,668 Crore IPO.
Expert Analysis:
IPO Approval and Size: Hero FinCorp received SEBI approval to raise Rs 3,668 crore via an IPO, with Rs 2,100 crore as fresh issue and Rs 1,568 crore as offer for sale.
Use of Proceeds: The fresh issue proceeds will boost the company’s capital for onward lending.
Loan Write-offs Increase: Loan write-offs surged 80% to Rs 2,180.9 crore in the first three quarters of FY25, up from Rs 1,214.7 crore last year.
Loan Sale Details: The company sold over 2.95 lakh written-off loans worth Rs 1,874.73 crore for just Rs 49.85 crore.
Assets Under Management: Assets under management stood at Rs 53,642 crore as of September 30, 2024.
Hero FinCorp received SEBI approval for a Rs 3,668 crore IPO amid rising loan write-offs and low recovery on sold-off non-performing loans.
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