India, May 28 -- Hero FinCorp, the financial services arm of Hero MotoCorp, has received approval from SEBI to launch its Rs 3,668 crore Initial Public Offering (IPO), according to a regulatory update on Wednesday.
As outlined in the Draft Red Herring Prospectus (DRHP), the IPO will comprise a fresh issue of equity shares worth RS 2,100 crore and an Offer for Sale (OFS) of Rs 1,568 crore by existing investor shareholders.
The OFS will see stake sales by AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (via Vikas Srivastava), and Otter Ltd.
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