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Hero FinCorp raises Rs.260-Cr in pre-IPO round

Yourstory   Hero FinCorp  

New Delhi-headquartered Hero FinCorp , the financial services division of two-wheeler manufacturer Hero MotoCorp, has raised INR 260 crore in a pre-IPO placement round.In the pre-IPO round executed on June 5, Hero FinCorp entered into investment agreements with 12 investors, allotting 18.57 lakh shares at INR 1,400 per share on June 13, raising INR 259.99 crore.The company allotted shares worth INR 69 crore to Shahi Exports, RVG Jatropha Plantation (INR 50 crore), Mohan Exports (INR 25 crore), and AP Properties (INR 22 crore). Additional participants in the round were Vivek Chaand Sehgal, Paramount Products, Tiger Laser Pte, Virender Uppal, Laksh Vaaman Sehgal, Renu Sehgal Trust, Yugal Chit Fund, and LC Hercules (Cayman).The total IPO size now stands at INR 3,408 crore, which includes an INR 1,568 crore offer-for-sale (OFS) by existing investors, compared to the earlier planned INR 3,668 crore. 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.