Hero Fincorp IPO
Hero FinCorp IPO is a Mainboard book-built issue comprising a Fresh Issue of ₹1,790.01 crore and an Offer for Sale of ₹1,568.13 crore. The total proposed Offer size is ₹3,358.14 crore. The face value is ₹10 per share. The price band, lot size and IPO date
Hero Fincorp IPO Details
Hero FinCorp IPO is an upcoming Mainboard public issue comprising a Fresh Issue of up to ₹1,790.01 crore and an Offer for Sale of up to ₹1,568.13 crore. The Offer for Sale is being made by existing shareholders, while the company proposes to use the Fresh Issue proceeds to augment its Tier-I capital base for future lending requirements. The price band, IPO opening and closing dates, allotment date, lot size and listing date are yet to be announced.
Hero Fincorp IPO Timeline (Tentative)
Hero FinCorp filed its DRHP with SEBI and received SEBI approval for its IPO in May 2025. The company subsequently updated its DRHP through an addendum dated November 28, 2025, following a pre-IPO placement that reduced the Fresh Issue from ₹2,100 crore to ₹1,790.01 crore. The final IPO schedule has not been announced.
| Event | Tentative Date |
|---|---|
| IPO Opens | |
| IPO Closes | |
| Basis of Allotment | |
| Refund Initiation | |
| Credit of Shares to Demat | |
| Listing Date |
Hero Fincorp IPO Lot Size
The Hero FinCorp IPO lot size has not yet been announced. The price band and minimum Bid Lot will be disclosed before the IPO opens for subscription.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
Hero Fincorp IPO Reservation
Hero FinCorp IPO has a proposed allocation structure of 75% for QIBs, 15% for NIIs and 10% for RIIs. The Offer also contains an Employee Reservation Portion and a Shareholder Reservation Portion for eligible Hero MotoCorp shareholders. The exact number of shares reserved for these portions will be finalized in the RHP/Prospectus.
Hero Fincorp IPO Subscription
Hero FinCorp IPO subscription status is not available as the IPO has not opened for bidding.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Hero Fincorp
Hero FinCorp Limited is a non-banking financial company (NBFC) offering financing solutions across retail, MSME and corporate and institutional finance segments. The company operates under the Hero brand and provides loans designed for different customer and business requirements.
Its retail finance portfolio includes vehicle loans, personal loans and mortgage loans. The MSME business includes secured financing such as loans against property and construction finance, as well as unsecured business loans and supply-chain finance. The company also provides secured financing to corporate and institutional customers.
As of September 30, 2025, Hero FinCorp had 13.21 million customers, 123 branches and 4,286 on-roll employees. Its total gross loans stood at ₹55,395.25 crore and assets under management were ₹58,162.54 crore.
Strengths
- Diversified lending platform covering retail, MSME and corporate and institutional finance.
- Operates under the established Hero brand.
- Large customer franchise of 13.21 million as of September 30, 2025.
- Total gross loans of ₹55,395.25 crore as of September 30, 2025.
- Assets under management of ₹58,162.54 crore as of September 30, 2025.
- Digital collections accounted for 88.46% as of September 30, 2025.
- Customer service through digital channels represented 69.44% as of September 30, 2025.
- Proposed Fresh Issue proceeds are intended to strengthen the company's Tier-I capital base for future lending.
Risks to Consider
- The company reported a consolidated loss after tax of ₹130.76 crore for the six months ended September 30, 2025.
- Credit costs and impairment on financial instruments can significantly affect profitability.
- The lending business is exposed to credit, liquidity and interest-rate risks.
- Higher non-performing assets may increase impairment requirements and affect financial performance.
- The company relies on borrowings and other funding sources to finance its lending operations.
- Changes in RBI regulations and other applicable financial-sector regulations may affect operations.
- Competition in retail, MSME and corporate lending may affect growth and margins.
- A deterioration in economic conditions can affect borrowers' repayment capacity.
Hero Fincorp Financials (₹ Cr)
Hero FinCorp reported total income of ₹9,903.33 crore in FY2025, compared with ₹8,359.73 crore in FY2024 and ₹6,447.55 crore in FY2023. Profit after tax stood at ₹637.05 crore in FY2025, ₹109.95 crore in FY2024 and ₹479.95 crore in FY2023. Total assets were ₹60,042.39 crore and net worth was ₹5,753.15 crore as of March 31, 2025.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2025 | 9,903.33 | 637.05 | 60,042.39 | 5,753.15 |
| FY2024 | 8,359.73 | 109.95 | 53,204.66 | 5,765.97 |
| FY2023 | 6,447.55 | 479.95 | 43,451.23 | 5,243.44 |
KPIs & Valuation
At the DRHP stage, the Hero FinCorp IPO price band had not been finalized. FY2025 basic EPS was ₹50.02 and diluted EPS was ₹49.92. The company reported FY2025 ROE of 11.57%, ROA of 0.20% and adjusted ROE of 12.38%. The P/E ratio cannot be calculated until the IPO price band is announced.
Objects of the Issue
Hero FinCorp proposes to use the Net Proceeds from the Fresh Issue to augment its Tier-I capital base to meet future capital requirements towards onward lending arising from the growth of its business. The Offer for Sale proceeds will be received by the respective selling shareholders. The company proposed to utilise the IPO proceeds for:
- Augmentation of the company's Tier-I capital base.
- Meeting future capital requirements towards onward lending.
- Funding the growth of the company's lending business.
Promoters, Lead Managers & Registrar
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. The IPO has eight Book Running Lead Managers, and MUFG Intime India Private Limited is the Registrar to the Offer.
Promoters
Lead Managers (BRLM)
Registrar
| Name | MUFG Intime India Private Limited |
|---|---|
| Phone | +91 22 4918 6270 |
| herofincorp.ipo@linkintime.co.in | |
| Website | https://in.mpms.mufg.com/ |
Hero Fincorp IPO Review
Hero FinCorp is a diversified NBFC with lending operations across retail, MSME and corporate and institutional finance. Its total income increased from ₹6,447.55 crore in FY2023 to ₹8,359.73 crore in FY2024 and ₹9,903.33 crore in FY2025. The company reported a profit after tax of ₹637.05 crore in FY2025.
The company has also maintained a large lending franchise. As of March 31, 2025, its assets under management stood at ₹57,720.53 crore, while total gross loans were ₹56,020.61 crore. The proposed Fresh Issue is intended to strengthen Tier-I capital and support future lending requirements.
However, Hero FinCorp reported a consolidated loss after tax of ₹130.76 crore for the six months ended September 30, 2025, compared with a profit of ₹86.78 crore in the corresponding period. Impairment on financial instruments was ₹1,404.46 crore during the six months ended September 30, 2025. The company's performance therefore remains sensitive to credit costs, asset quality and borrowing costs.
How to Apply
Hero FinCorp IPO applications can be made through ASBA and UPI once the IPO opens for subscription. The price band, lot size and bidding dates have not yet been announced.
Through UPI
- Log in to your stockbroker app/website.
- Go to the IPO section.
- Select Hero FinCorp IPO.
- Enter the number of lots you want to apply for.
- Select the bid price.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the Hero FinCorp DRHP and Addendum to DRHP for detailed information about the business, financial performance, risk factors, IPO structure and utilisation of the issue proceeds. The latest identified addendum to the DRHP is dated November 28, 2025.
Last updated Sep 29, 2026.