Mumbai: India's largest two-wheeler manufacturing company Hero Motocorp's financial arm Hero Fincorp approved a Rs4,000 crore Initial Public Offering (IPO) of equity shares with a face value of Rs10 each.

IPO will be a combination of a fresh issue and an offer for sale (OFS) by certain existing and eligible shareholders of the company. “The company's board of directors met on May 29, 2024. It has approved an IPO with shares having a face value of Rs 10 each,” Hero Fincorp said in a statement. It further said, “The IPO comprises Equity Shares aggregating up to Rs40,000 million and an Offer for Sale of Equity Shares by certain existing and eligible shareholders of the company.”

Hero Fincorp is an NBFC company. It provides loans for two-wheelers, affordable housing, education, small and medium industries, etc. The company is present in more than 4,000 cities and towns.