IPO News Updates: India’s largest two-wheeler manufacturer Hero MotoCorp Ltd has approved the IPO of its subsidiary company Hero FinCorp Ltd on May 29. The size of this IPO can be Rs 4000 crore. The company will issue shares under the offer fall sale and through fresh issue.
Board meeting was held on 29 May
HeroMotoCorp said in the information given to the stock markets that a meeting of the company’s board of directors was held on May 29. In the same meeting, the company has given approval to Hero Fincorp to launch an IPO. The face value of the shares issued by the company through IPO will be Rs 10.
Strong returns of EV stock, 35% rise in 3 days, IPO came 2 months ago
What does the company do?
Hero Fincorm is a financial services providing company. The company provides financing for two-wheelers, home advances, education loans and loans to SME companies. The company has presence in 4000 cities.
Who has how much stake in the company?
Hero MotoCorp holds 40 percent stake in Hero Fincorp. Manjul family holds 35 to 39 percent stake. Apart from this, the remaining stake is held by Apollo Global, CheysCapital Suisse and some others.
The price of shares of this company will cross Rs 50! Investors happy with new good news
How is the company’s performance in the stock market?
On Friday, the share price of HeroMotoCorp was Rs 5119.60 in BSE. During the last one year, the share prices of this company have seen an increase of more than 84 percent. At the same time, investors who have been holding the stock for 6 months have got a profit of 36 percent so far.
The company’s share price has seen a rise of 14.9 percent in the last one month. The company’s 52 week high level is Rs 5225 and 52 week low level is Rs 2740.05. The market cap of the company is Rs 1,02,356.73 crore.
