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Hero Fincorp Rating Upgrade
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    Hero Fincorp Rating Upgrade

    17 August 2023

    We have downgraded the rating from Buy to Hold/Neutral. Investors holding the stock can look to exit at 5,200% premium to the present price. "Hold" Rating in Hero Fincorp due to the following reasons:-

    1. We are not recommending buy in Hero Fincorp as there is a lack of liquidity in the shares of Hero Fincorp

    2. Hero Fincorp is expected to bring its IPO valued at Rs 14,900 Cr (as per some media reports). The current valuation of the company is around Rs 15,000 Cr which seems to be fair. 

    3. The news of the IPO and when company files its DRHP along with the lack of liquidity might push the price upwards in the markets but we have a hold rating on this and do not recommend any fresh buy in the stock 

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