Hero FinCorp IPO is a proposed Mainboard Book Built public issue by Hero FinCorp Limited. The public issue comprises a fresh issue of equity shares aggregating up to ₹1,790.01 crore and an Offer for Sale of equity shares aggregating up to ₹1,568.13 crore. The company is also providing reservation for eligible employees and eligible shareholders of Hero MotoCorp Limited. The equity shares are proposed to be listed on the BSE and NSE.
The company had undertaken a Pre-IPO Placement of 22,14,277 equity shares aggregating to ₹309.99 crore. The amount raised through the Pre-IPO Placement was adjusted against the original fresh issue, reducing the fresh issue size from ₹2,100 crore to ₹1,790.01 crore.
Hero FinCorp Limited is a non-banking financial company engaged in providing financing solutions to retail customers, MSMEs and corporate customers. Its product portfolio includes two-wheeler loans, pre-owned car loans, personal loans, loan against property, housing loans, inventory funding and loans to SMEs and emerging corporates.
The company operates through a diversified lending platform with retail, SME and corporate loan products. As of March 31, 2025, the company’s Assets Under Management stood at ₹57,720.53 crore, while total gross loans stood at ₹56,020.61 crore.
Table of Contents
Hero FinCorp IPO Details Information
| Particulars | Information |
|---|---|
| IPO Name | Hero FinCorp IPO |
| Company Name | Hero FinCorp Limited |
| IPO Type | Book Build Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | Yet to be Updated |
| Issue Size | ₹3,358.14 Crore |
| Fresh Issue | Up to ₹1,790.01 Crore |
| Offer for Sale | Up to ₹1,568.13 Crore |
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| Anchor Investor Bidding | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
| Listing Exchange | BSE & NSE |
| Lot Size | Yet to be Updated |
| Registrar | MUFG Intime India Private Limited |
| Book Running Lead Managers | JM Financial Limited, Axis Capital Limited, BofA Securities India Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited and SBI Capital Markets Limited |
The total proposed offer size is approximately ₹3,358.14 crore, comprising the revised fresh issue of up to ₹1,790.01 crore and an Offer for Sale of up to ₹1,568.13 crore. The final price band and minimum bid lot will be announced before the IPO opens.
Hero FinCorp IPO Dates
The IPO opening, closing, allotment and listing dates have not been announced in the latest available offer documents.
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | Yet to be Updated |
| IPO Opening Date | Yet to be Updated |
| IPO Closing Date | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
Hero FinCorp IPO Reservation
The IPO provides for allocation among qualified institutional buyers, non-institutional investors and retail individual investors, along with an employee reservation portion and a reservation portion for eligible shareholders of Hero MotoCorp Limited. The final number of shares under each reservation category will be updated after the price band and final offer structure are announced.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 75% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 10% |
| Employee Category | Reservation Portion |
| Eligible Hero MotoCorp Shareholders | Reservation Portion |
The final allocation under each category will depend on the final offer structure and valid applications received during the IPO subscription period.
Hero FinCorp IPO Lot Size
The final lot size and application amount will be updated after the company announces the price band and minimum bid lot.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | Yet to be Updated | Yet to be Updated |
| Retail Maximum | Yet to be Updated | Yet to be Updated |
| S-HNI Minimum | Yet to be Updated | Yet to be Updated |
About Hero FinCorp Limited
Hero FinCorp Limited is a diversified non-banking financial company providing financing solutions to retail customers, MSMEs and corporate borrowers. The company was incorporated in 1991 and initially focused on lending to entities within the Hero group ecosystem before expanding its lending activities to customers outside the group.
The company’s retail lending portfolio includes two-wheeler loans, pre-owned car loans, personal loans, loan against property and other retail financial products. It also provides financing to SMEs, emerging corporates and businesses through its MSME and corporate lending operations.
As of March 31, 2025, Hero FinCorp had an AUM of ₹57,720.53 crore, compared with ₹51,820.81 crore in FY2024 and ₹41,750.89 crore in FY2023. Retail loans accounted for 62.02% of AUM, followed by SME at 24.53% and corporate loans at 10.00%.
Business Operations
Hero FinCorp operates across several lending categories.
- Two-Wheeler Loans – Financing solutions for customers purchasing new two-wheelers.
- Pre-Owned Car Loans – Financing for customers purchasing used cars.
- Personal Loans – Personal finance products for eligible retail customers.
- Loan Against Property – Secured financing against eligible properties.
- Housing Loans – Housing finance products through the company’s lending operations.
- MSME Loans – Financing solutions for small and medium-sized businesses.
- Corporate Loans – Financing for emerging corporates and businesses.
- Inventory Funding – Funding solutions for eligible businesses requiring working capital.
- Retail Financing – A diversified retail lending portfolio forming the largest component of the company’s AUM.
- Digital Lending – Technology-enabled processes are used across various stages of customer acquisition and loan servicing.
Industry Overview
India’s non-banking financial company sector plays an important role in providing credit to retail customers, MSMEs and businesses. Increasing formalisation of credit, financial inclusion, digital lending infrastructure and demand for consumer and business financing continue to support the development of the lending industry.
Hero FinCorp operates across several segments including vehicle finance, retail finance, MSME lending and corporate lending. The diversification across loan categories allows the company to serve customers with different financing requirements.
Business Strategy
Hero FinCorp focuses on expanding its retail and MSME lending franchise while maintaining a diversified loan portfolio. The company aims to use its distribution network, technology capabilities and relationships within the Hero ecosystem to originate and service loans.
The company also focuses on improving asset quality, expanding its customer base, increasing digital adoption and maintaining adequate capital to support future lending requirements.
Hero FinCorp IPO Financial Information
A company’s financial performance provides insights into revenue growth, profitability, operational efficiency and financial stability. The following figures are based on the Restated Consolidated Financial Information disclosed in the latest DRHP/addendum.
Hero FinCorp Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹6,401.59 Crore | ₹8,290.90 Crore | ₹9,832.73 Crore |
| Total Income | ₹6,447.55 Crore | ₹8,359.73 Crore | ₹9,903.33 Crore |
| Net Interest Income | ₹3,545.65 Crore | ₹4,382.02 Crore | ₹4,760.96 Crore |
| Profit Before Tax (PBT) | ₹735.22 Crore | ₹960.55 Crore | ₹256.09 Crore |
| Profit After Tax (PAT) | ₹479.95 Crore | ₹637.05 Crore | ₹109.95 Crore |
| Net Worth | ₹5,243.44 Crore | ₹5,765.97 Crore | ₹5,753.15 Crore |
| Total Borrowings | ₹36,627.86 Crore | ₹46,169.48 Crore | ₹52,954.65 Crore |
| Total Assets | ₹43,451.23 Crore | ₹53,204.66 Crore | ₹60,042.39 Crore |
Hero FinCorp’s total income increased from ₹6,447.55 crore in FY2023 to ₹9,903.33 crore in FY2025. However, reported PAT declined from ₹637.05 crore in FY2024 to ₹109.95 crore in FY2025. The company reported an AUM of ₹57,720.53 crore at March 31, 2025.
Hero FinCorp IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s lending scale, profitability, capital adequacy, asset quality and operating performance. The latest offer documents disclose the following operating and financial indicators.
| KPI | Value |
|---|---|
| Return on Net Worth (RoNW) | 1.91% |
| Net Interest Margin | 8.86% |
| Adjusted Net Interest Margin | 9.02% |
| Operating Expenses Ratio | 5.46% |
| Adjusted Operating Expenses Ratio | 4.84% |
| Debt-to-Equity Ratio | 9.20x |
| CRAR | 16.88% |
| Tier I Capital | 14.19% |
| GNPA Ratio | 5.05% |
| NNPA | ₹1,250.09 Crore |
| EPS | ₹1.24 |
| NAV Per Share | ₹12.95 |
| AUM | ₹57,720.53 Crore |
The company’s AUM increased by 11.38% in FY2025. Its retail portfolio accounted for 62.02% of AUM, while SME and corporate portfolios accounted for 24.53% and 10.00%, respectively. The GNPA ratio stood at 5.05% as of March 31, 2025.
Objects of the Hero FinCorp IPO
The company intends to utilise the net proceeds from the fresh issue primarily for strengthening its capital base and supporting future lending requirements.
- Augmentation of the company’s Tier-I capital base.
- Meeting future capital requirements for onward lending.
- Supporting the company’s growth and expansion of its lending operations.
The company will receive the proceeds from the fresh issue, while proceeds from the Offer for Sale will be received by the respective selling shareholders.
Hero FinCorp IPO Listing Performance
The listing performance will be available after the company’s shares are listed on the stock exchanges.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | Yet to be Updated |
| Issue Price | Yet to be Updated |
| Listing Price | Yet to be Updated |
| Listing Gain | Yet to be Updated |
| Listing Gain (%) | Yet to be Updated |
Hero FinCorp IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. Final subscription figures will be updated after the IPO opens for subscription.
Hero FinCorp IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Yet to be Updated |
| Non-Institutional Investors (NII) | Yet to be Updated |
| Retail Individual Investors (RII) | Yet to be Updated |
| Employee Category | Yet to be Updated |
| Total Subscription | Yet to be Updated |
Hero FinCorp IPO Review
Hero FinCorp Limited is a diversified NBFC with exposure to retail, SME and corporate lending. Its product portfolio includes vehicle finance, personal loans, mortgage-related products, MSME financing and corporate lending. The company had an AUM of ₹57,720.53 crore at March 31, 2025.
The company recorded growth in total income and AUM during FY2025. However, reported PAT declined substantially in FY2025, while the company’s GNPA ratio stood at 5.05%. Investors should therefore consider the company’s lending growth, asset quality, capital position, borrowing costs, profitability and final IPO valuation when evaluating the issue.
Hero FinCorp’s proposed fresh issue is intended to strengthen its Tier-I capital base and support future onward lending. The Offer for Sale component will provide an exit opportunity to the respective selling shareholders, while the fresh issue proceeds will remain available to the company.
Hero FinCorp IPO Strengths
- Diversified lending portfolio across retail, SME and corporate segments.
- Large AUM of ₹57,720.53 crore as of March 31, 2025.
- Strong presence in retail financing.
- Established association with the Hero group.
- Extensive experience in the Indian lending industry.
- Growing total income and AUM over the reported financial years.
- Fresh issue proceeds proposed for strengthening Tier-I capital.
Hero FinCorp IPO Risk Factors
- The company operates in a highly competitive lending industry.
- Asset quality and credit losses can materially affect profitability.
- The company reported a significant decline in PAT in FY2025.
- The company has a high debt-to-equity ratio.
- Changes in interest rates may affect borrowing costs and lending margins.
- Regulatory changes applicable to NBFCs may affect operations.
- Concentration in certain retail lending segments may increase credit risks.
- Higher GNPA levels may require increased impairment provisions.
- The company’s business depends on continued access to funding sources.
Hero FinCorp IPO Promoters
Hero FinCorp Limited is promoted by Hero MotoCorp Limited, Bahadur Chand Investments Private Limited, Hero InvestCorp Private Limited, Brijmohan Lal Om Parkash, Dr. Pawan Munjal, Renu Munjal, Suman Kant Munjal, Renuka Munjal and Abhimanyu Munjal.
Hero FinCorp IPO Promoters Details
| Promoter | Designation |
|---|---|
| Hero MotoCorp Limited | Promoter |
| Bahadur Chand Investments Private Limited | Promoter |
| Hero InvestCorp Private Limited | Promoter |
| Brijmohan Lal Om Parkash | Promoter |
| Dr. Pawan Munjal | Promoter |
| Renu Munjal | Promoter |
| Suman Kant Munjal | Promoter |
| Renuka Munjal | Promoter |
| Abhimanyu Munjal | Promoter |
Hero FinCorp IPO Management Team
The company is led by an experienced management team with expertise in financial services, lending, risk management, finance and corporate operations.
| Name | Designation |
|---|---|
| Abhimanyu Munjal | Managing Director & Chief Executive Officer |
| Kaushik Dutta | Director |
| Sajin Mangalathu | Chief Financial Officer |
| Shivendra Kumar Suman | Company Secretary & Compliance Officer |
The latest restated financial information identifies Abhimanyu Munjal as Managing Director & CEO, Kaushik Dutta as Director, Sajin Mangalathu as CFO and Shivendra Kumar Suman as Company Secretary and Compliance Officer.
Hero FinCorp IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Private Limited |
| Website | https://in.mpms.mufg.com |
| IPO Allotment Status | Yet to be Updated |
| Email ID | Yet to be Updated |
| Contact Number | Yet to be Updated |
MUFG Intime India Private Limited is identified as the Registrar to the Offer in the company’s offer documents.
Hero FinCorp IPO Lead Manager Details
The Book Running Lead Managers are responsible for managing the IPO process, coordinating regulatory compliance and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Managers | JM Financial Limited, Axis Capital Limited, BofA Securities India Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited and SBI Capital Markets Limited |
Hero FinCorp Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Hero FinCorp Limited |
| Registered Office | 54, Community Centre, Basant Lok, Vasant Vihar, New Delhi – 110057 |
| Corporate Office | 9, Community Centre, Basant Lok, Vasant Vihar, New Delhi – 110057 |
| Website | https://www.herofincorp.com |
| Email ID | [email protected] |
| Contact Person | Shivendra Kumar Suman, Company Secretary and Compliance Officer |
| Contact Number | +91-11-49487150 |
The company’s registered office, corporate office, website and investor contact details are disclosed in its exchange filings.
How to Check Hero FinCorp IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through MUFG Intime India Private Limited
- Visit the official MUFG Intime IPO allotment portal.
- Select Hero FinCorp IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Hero FinCorp IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
Hero FinCorp IPO Conclusion
Hero FinCorp IPO comprises a fresh issue of up to ₹1,790.01 crore and an Offer for Sale of up to ₹1,568.13 crore, taking the proposed offer size to approximately ₹3,358.14 crore. The fresh issue is intended to strengthen the company’s Tier-I capital base and support future lending requirements.
Hero FinCorp operates a diversified lending business across retail, SME and corporate segments. Its AUM stood at ₹57,720.53 crore as of March 31, 2025, while total income stood at ₹9,903.33 crore for FY2025. The company reported PAT of ₹109.95 crore for FY2025.
Investors should consider the company’s AUM growth, asset quality, capital adequacy, profitability, borrowing profile, regulatory environment and final IPO valuation before making an investment decision. The final price band, IPO dates, lot size, subscription figures and listing details will be updated once officially announced.
Hero FinCorp IPO FAQs
What is Hero FinCorp IPO?
Hero FinCorp IPO is a proposed Mainboard public issue of Hero FinCorp Limited comprising a fresh issue of equity shares aggregating up to ₹1,790.01 crore and an Offer for Sale aggregating up to ₹1,568.13 crore.
What is the price band of Hero FinCorp IPO?
The price band of Hero FinCorp IPO is yet to be announced.
What is the issue size of Hero FinCorp IPO?
The proposed offer size is approximately ₹3,358.14 crore, comprising a fresh issue of up to ₹1,790.01 crore and an Offer for Sale of up to ₹1,568.13 crore.
When will the Hero FinCorp IPO open?
The Hero FinCorp IPO opening date is yet to be announced.
When will the Hero FinCorp IPO close?
The Hero FinCorp IPO closing date is yet to be announced.
On which stock exchanges will Hero FinCorp shares be listed?
Hero FinCorp shares are proposed to be listed on the BSE and NSE.
Who is the registrar for Hero FinCorp IPO?
MUFG Intime India Private Limited is the registrar to the Hero FinCorp IPO.
What is the face value of Hero FinCorp IPO shares?
The face value of each Hero FinCorp equity share is ₹10.
What does Hero FinCorp Limited do?
Hero FinCorp Limited is an NBFC providing financing solutions across retail, MSME and corporate lending segments, including two-wheeler loans, pre-owned car loans, personal loans, loan against property, housing loans and business loans.
What are the objects of the Hero FinCorp IPO?
The company proposes to use the fresh issue proceeds for augmentation of its Tier-I capital base to meet future capital requirements towards onward lending. The proceeds from the Offer for Sale will be received by the respective selling shareholders.
