Hero FinCorp, a leading non-banking financial company (NBFC) headquartered in New Delhi, India and a subsidiary of Hero MotoCorp, has secured ₹50 crore in its second pre-IPO round from Vattikuti Ventures, led by US-based Indian entrepreneur Raj Vattikuti. With this, the firm has raised ₹310 crore in pre-IPO funding, revising its fresh issue size to ₹1,790 crore ahead of its ₹3,668.1 crore IPO.
Hero FinCorp, a non-banking financial company (NBFC) based in New Delhi and a subsidiary of Hero MotoCorp, has raised ₹50 crore in its second pre-IPO funding round from Vattikuti Ventures, a US-based venture capital firm led by philanthropist and entrepreneur Raj Vattikuti.
In a notice dated July 10, Hero FinCorp disclosed that 3.57 lakh shares were allotted to Vattikuti Ventures LLC at ₹1,400 per share. This development follows a resolution passed by the company’s committee of directors on July 8, 2025.
Following this allotment, Hero FinCorp’s IPO fresh issue size has been revised from ₹1,840 crore to ₹1,790 crore. The company is now valued at ₹25,014 crore at the current price of ₹1,400 per share.
This comes after Hero FinCorp raised ₹260 crore in its first pre-IPO round through the issuance of 18.57 lakh shares to 12 institutional investors including Paramount Products, Shahi Exports, A P Properties, Yugul Chit Fund, Tiger Laser, and Virender Uppal.
With both rounds, the company has mobilised ₹310 crore of the targeted ₹420 crore pre-IPO fundraising.
Hero FinCorp, which provides loans in retail, MSME, and corporate finance segments, officially filed its Draft Red Herring Prospectus (DRHP) on July 31, 2025. The public offering will total ₹3,668.1 crore, comprising a revised fresh issue of ₹1,790 crore and an offer-for-sale (OFS) worth ₹1,568.1 crore.
The OFS will see participation from shareholders including AHVF II Holdings Singapore, Apis Growth, Link Investment Trust (represented by Vikas Srivastava), and Otter.
The proceeds from the fresh issue will be used to enhance the company’s Tier I capital, supporting future growth and lending operations.
JM Financial, Axis Capital, BofA Securities India, HDFC Bank, HSBC India, ICICI Securities, Jefferies India, and SBI Capital Markets are managing the IPO as book-running lead managers.
Hero FinCorp’s IPO listing is expected to generate strong investor interest, particularly given its strategic positioning in India’s rapidly growing NBFC space.