SEBI Likely To Clear IPOs Of  HDB Financial, Hero FinCorp, and Vikram Solar Etc

According to sources, India’s Capital Market regulator SEBI, is expected to approve three major IPOS in the coming weeks. This includes the highly anticipated public offering of NBFCs, including Hero FinCorp and HDB Financial Services. In addition to these NBFCs, the Solar PV Module Manufacturer Vikram Solar IPO is likely to be approved by SEBI.

Let’s have a look at these companies individually

HDB Financial: Rs 12,500 Crore IPO

First on the block is the much-awaited $1.5 billion HDB financial IPO, which is set to get Seb’s go-ahead very soon, paving the way for what is going to be one of the largest IPOs we’ll see from any NBFC in recent times.
Their offer will comprise 2500 crores of a fresh issue component and a 10,000 crores offer for sale by the parent HDFC Bank. 

HDB had filed its DRHP in October last year. The offer was under SEBI scrutiny over a potential violation of the company’s act, which related to a private placement of shares to more than 50 employees of HDFC Bank, which has since been resolved.

HDB Financial will need to list by September to comply with the RBI’s upper-layer NBFC norms. In addition to that, if the RBI’s 2024 draft circular on bank subsidiaries is finalised, HDFC Bank will also have to bring its stake down to 20% in HDB, where it currently owns more than 94% stake.

Hero Fincorp Waits For Rs 3,668 Crore IPO Approval

Apart from HDB,  SEBI is also set to clear Hero Fin Corps’ Rs 3,668 Cr. IPO, the papers for which were filed in July last year and faced delays because of compliance-related questions around unlisted entities. The Rs 3,668 Crore IPO consist of Rs 2100 fresh issue and Rs 1,568 crore offer for sale (OFS) by existing investors.

Herofin Corp is backed by Chris Capital and is a part of Hero Motorcorp Group. The company plans to use these funds to grow its Tier 1 Base Capital and meet its future capital requirements for lending purposes.

Incorporated in 1991, Hero Fincorp is the financial arm of Hero Motor Corp. It offers leasing, financing, bill discounting, and related services. The NBFC is involved in commercial lending and consumer finance.

Here are some types of loans Hero Fincorp offers:

  • Home Loan.
  • Loyalty Loan.
  • Personal Loan.
  • Business Loan.
  • Used Car Loan.
  • Two Wheeler Loan.
  • Loan Against Property.

Read here to know more about Hero Fincorp IPO and financials.

Vikram Solar: Rs 1,500 Crore IPO Listing

One of the largest PV Solar Module Manufacturers based out of Kolkata, Vikram Solar, filed its DRHP on September 24. The proposed IPO consists of Rs 1,500 crore fresh issue and an offer for sale of 1.74 crore equity shares by the promoters Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary.

Vikram Solar may consider raising Rs 300 crore through private placement (Pre-IPO). If they can raise pre-ipo, then the said amount will be reduced from the fresh issue.

Tata Capital IPO May Take Some Time

Apart from these three IPO’s, an update on Tata Capital’s mega 15,000 cr rupee IPO. They filed their papers with Sebi just last month. So this will take a little more time, but the clock is ticking for them because Tata Capital is also under the RBI’s upper-layer NBFC listing mandate with a deadline of September this year to hit the public markets.

With the three major IPO offerings of HDB, Hero Fincorp, and Vikram Solar expected soon, the Indian Investor Market is set for some powerful IPO and pre-IPO investments.

Get Early Access To Wealth Creation Through Pre-IPO Shares

Pre-IPO Shares are companies that intend to have a listing on the BSE or NSE in India. Buying early can maximise your profits. These are available at a lower cost than their listed peers. By investing early in Pre-IPO shares, you stand a chance of multiplying your returns significantly once the company is officially listed on the stock exchange (NSE/BSE).

Trading in unlisted Shares can be tricky due to a lack of information. At Stockify, we give investors insights about top trending pre-IPO shares and help them trade in such unlisted shares. Increased shareholder wealth by identifying the right companies at the right time.

Join our community of 2000+ investors building their wealth through pre-ipo shares.

Table of Contents

You may also like to read

What is Grey Market? Types and How Pre-IPO Shares Are Traded

Sterlite Electric Bags 2,400 Cr Order In Q4, FY’25 Total Reaches 7,500 Cr

NSE In Unlisted Market VS BSE In Listed Market

NSE Offers 1000 Crore To Settle SEBI Case, Bring Back IPO

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

Join Stockify's WhatsApp Community
Stockify Fintech Pvt. Ltd.
Stockify Fintech Pvt. Ltd

Provide Email And Download!

Stockify Fintech Pvt. Ltd

Provide Email And Download!

Stockify Fintech Pvt. Ltd.

Haven't found what you're looking for?
Speak to an expert.
Book an appointment by clicking on the link below.

Piyush Jhunjhunwala
Piyush Jhunjhunwala
CA, CPA, Ex. PepsiCo, Reckitt, Coty
CEO & Founder
Dubai, UAE.
Rahul Khatuwala
Rahul Khatuwala
Ex. Wipro & Finaco Founder
Co-Founder
Bangalore, India.