IPO on the cards for finance company of Hero MotoCorp

Non-banking finance company Hero FinCorp, an associate company of Hero MotoCorp, India’s largest two-wheeler manufacturer, could be looking at an initial public offer (IPO) after having successfully closed a funding round of ₹2,000 crore recently.

Hero MotoCorp and US-based private equity major Apollo Management participated in the latest fund-raising round of Hero FinCorp.If Hero FinCorp goes ahead with the listing, it will make the company the only second entity from the Hero group to get listed on the stock exchanges.