Hero Fincorp IPO
UPCOMINGMAINBOARDDRHP Filed
Awaiting issue details
Revenue (FY24)
₹8359.73 Cr
PAT (FY24)
₹637.05 Cr
Analysis
6 strengths · 6 risks
- Price Band
- TBA
- Lot Size
- TBA
- Lot Value
- TBA
- Open Date
- TBA
- Close Date
- TBA
IPO Timeline
Issue Opens
TBA
Issue Closes
TBA
Allotment
TBA
Listing
TBA
About Hero Fincorp
Hero Fincorp is an NBFC providing retail finance (vehicle loans, personal loans, mortgage loans through subsidiary Hero Housing Finance Limited), MSME finance, and corporate invoice finance. The company operates through multiple distribution channels including two-wheeler dealers, digital partners, direct selling agents, and direct sourcing.
Generates revenue through interest income on loans disbursed across retail finance (vehicle, personal, mortgage loans), MSME finance, and corporate invoice finance segments, along with processing fees and other income.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: NSE, BSE
Strengths (6)
- •Scaled NBFC with diversified product offerings for retail and MSME segments
- •Strong Hero MotoCorp heritage and brand recognition in Indian market
- •Pan-India distribution network through dealers, digital partners and direct channels
- •Advanced ML-based underwriting and robust risk management framework
- •Strong credit ratings and diverse low-cost funding sources
- •Experienced management team with 25 years average industry experience
Risk Factors (6)
- •99.93% of two-wheeler loans sourced from Hero MotoCorp; decline in demand adversely affects business
- •Stage 3 loans at 4.02% of gross loans; non-payment defaults may reduce profitability
- •Retail business depends on new-to-credit borrowers with higher non-performance and default risks
- •Retail finance comprises 85.88% of AUM; adverse developments reduce demand or increase defaults
- •First public issue; no formal market exists; offer price may not indicate post-listing price
- •Equity investments carry high risk; bidders may lose entire investment if offer underperforms
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
ANALYSIS PENDINGRating will be available once IPO opens for subscription.
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | — |
| Exchange | NSE, BSE |
| ISIN | — |
| Face Value | — |
| Issue Size | — |
| Fresh Issue | ₹210.00 Cr |
| OFS Size | ₹156.81 Cr |
| 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, SBI Capital Markets Limited |
Company Fundamentals
8 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Hero Fincorp's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Hero Fincorp's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Hero Fincorp's filing.
Source: Hero Fincorp offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+75.00%
- NII / HNI+15.00%
- Retail+10.00%
OFS Selling Shareholders
- AHVF II HOLDINGS SINGAPORE II PTE. LTD.₹1000.00 Cr
- APIS GROWTH II (HIBISCUS) PTE. LTD.₹250.00 Cr
- LINK INVESTMENT TRUST (THROUGH VIKAS SRIVASTAVA)₹4.77 Cr
- OTTER LIMITED₹313.36 Cr
Source: Hero Fincorp offer document (DRHP/RHP).
Board & Management
Board of Directors (10)
- Dr. Pawan Munjal₹0.01 Cr p.a.
Promoter Director
- Renu Munjal
Whole-time Director
- Abhimanyu Munjal
Managing Director and Chief Executive Officer
- Pradeep Dinodia₹0.16 Cr p.a.
Non-Executive Director
- Sanjay Kukreja
Director
- Amar Raj Singh Bindra₹0.09 Cr p.a.
Independent Director
Bachelor's in Commerce from Sydenham College of Commerce, Mumbai; Master's in Management Studies from Jamnalal Bajaj Institute of Management Studies, Mumbai; Wharton Advanced Management Programme
Regional head at Citibank N.A., head of credit and capital management at ANZ Banking Group Limited
- Paramdeep Singh₹0.06 Cr p.a.
Non-Executive Independent Director
Bachelor's in Arts from Tufts University, Massachusetts, USA
Co-founder and director of JioSaavn
- Anuranjita Kumar₹0.01 Cr p.a.
Independent Director
Bachelor's in Arts (Psychology) from University of Delhi; Post-graduate diploma in Personnel Management and Industrial Relations from XLRI Jamshedpur
Founder and CEO of WE-ACE; partner at Induscap Ventures LLP; various roles at Citibank N.A. across India, Singapore and United Kingdom
- Aparna Popat Ved
Independent Director
Bachelor's in Commerce from University of Mumbai; MBA from Sikkim Manipal University
Former professional badminton player; co-founder and former COO of All Is Well of Meboki Technologies Private Limited; director at Badminton Gurukul Private Limited
- Kaushik Dutta
Independent Director
Bachelor's in Commerce from St. Xavier's College, University of Calcutta; qualified Chartered Accountant
Expert at Indian Institute of Corporate Affairs; consultant at Ministry of Corporate Affairs (Serious Frauds Investigation Office); partner at Lovelock & Lewes, Chartered Accountant; executive director at PricewaterhouseCoopers Private Limited
Key Managerial Personnel (4)
- Abhimanyu Munjal
Managing Director and Chief Executive Officer
- Renu Munjal
Whole-time Director
- Sajin Purushothaman Mangalathu₹0.37 Cr p.a.
Chief Financial Officer
Bachelor's in Electronics and Communication Engineering from Indian Institute of Technology, Madras; Post-graduate diploma in Management from Indian Institute of Management, Bangalore
Over 29 years in banking and finance industry; chief information officer – solution delivery and strategic joint ventures at GE Capital; deputy manager at ICICI Limited
- Shivendra Kumar Suman₹0.15 Cr p.a.
Company Secretary and Compliance Officer
Bachelor's in Commerce from University of Delhi; Bachelor's in Law from Charan Singh University, Meerut
Company secretary at Citicorp Services India Private Limited; financial controller and company secretary at Citicorp Capital Market Limited
Source: Hero Fincorp offer document (DRHP/RHP).
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from Hero Fincorp's filing.
Use of IPO Proceeds
Total allocation: ₹0.00 Cr (excludes issue expenses)
Promoters
Dr. Pawan Munjal
Promoter
Pre-issue: 0.36%
Renu Munjal
Promoter
Pre-issue: 0.25%
Suman Kant Munjal
Promoter
Pre-issue: 0.11%
Renuka Munjal
Promoter
Pre-issue: 0.01%
Abhimanyu Munjal
Promoter · age 41
Managing Director and Chief Executive Officer of our Company
Pre-issue: 0.09%
Investor Quota
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Hero FinCorp Limited | — | 50.04 | 11.05 | 452.92 |
| Bajaj Finance Limited | 28.77 | 236.89 | 18.84 | 1239.03 |
| Cholamandalam Investment & Finance Company | 34.36 | 41.17 | 17.46 | 233.26 |
| Poonawalla Fincorp Limited | 17.37 | 21.89 | 20.61 | 105.44 |
| Sundaram Finance Limited | 33.88 | 130.31 | 16.63 | 997.1 |
Material Litigation
Hero Fincorp faces material litigation including an arbitration claim by Jayneer Infrapower & Multiventures Private Limited seeking ₹3,925.21 million related to a loan assignment dispute, and various criminal proceedings including allegations of forgery and document manipulation. Against promoters and directors, there are proceedings under the Prevention of Money Laundering Act 2002 involving alleged illegal foreign currency export of ₹540 million, and other criminal matters totaling ₹104,984.66 million in aggregate amounts.
Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY24
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY24 | 8,359.73 | 637.05 | — | — | — |
| FY23 | 6,447.55 | 479.95 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 |
|---|---|---|
| Total Income | 6,447.55 | 8,359.73 |
From the company's offer document (DRHP/RHP); restated figures where available.
GMP Trend
GMP data will appear a few days before the IPO opens.
Subscription Status
Subscription data will appear once bidding begins.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| LEAP India | 14 Aug 2026 | — |
| Technocraft Ventures | 14 Aug 2026 | — |
| Ardee Industries | 12 Aug 2026 | +35.85% |
Related IPOs
Documents
Frequently Asked Questions
When is the Hero Fincorp IPO opening?
The Hero Fincorp IPO dates have not yet been announced. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Hero Fincorp IPO?
The price band for the Hero Fincorp IPO is not yet announced. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Hero Fincorp IPO?
The minimum lot size is TBA shares with a minimum investment of not yet announced. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Hero Fincorp IPO today?
Grey Market Premium data for Hero Fincorp is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Hero Fincorp IPO list on NSE and BSE?
The listing date for the Hero Fincorp IPO has not been announced yet. It is typically 5 to 6 working days after the subscription closes.
How can I check the Hero Fincorp IPO allotment status?
You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Hero Fincorp IPO a mainboard or SME issue?
Hero Fincorp is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Hero Fincorp IPO?
You can apply for the Hero Fincorp IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to Hero Fincorp IPO?
Based on our algorithmic analysis, Hero Fincorp IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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