Hero FinCorp is heading for an IPO
An IPO has been announced. Issue details are on the IPO page.
Hero FinCorp Unlisted Shares
Hero FinCorp is a diversified NBFC and the financial services arm of the Hero Group, offering two-wheeler loans, MSME finance, and personal loans with ₹40,000+ Cr AUM.
Read the full company profileHero FinCorp share details
- Lot size
- 25 shares
- Min. investment
- ₹23,625
- Face value
- ₹10
- Implied market cap
- ₹12,250 Cr
- Shares outstanding
- 129,627,036
- Website
- herofincorp.com
- ISIN
- INE957N01016
- CIN
- U74899DL1991PLC046774
- Lock-in after IPO
- 6 months
Hero FinCorp share price chart
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
Hero FinCorp IPO status: SEBI approval lapsed
Hero FinCorp did not launch its IPO within 12 months of SEBI's approval, so the approval has lapsed. It has to file again to go public.
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28 Nov 2025DRHP filed with SEBI
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22 May 2026SEBI approval lapsed
About Hero FinCorp
When is the Hero FinCorp IPO?
Strengths
- Assets under management stood at ₹5,81,625.35 million as of 30 September 2025, up from ₹4,17,508.93 million at March 2023. The book has grown every year in that span.
- The lending mix is spread across segments. As of 30 September 2025, retail was 62.02%, SME 24.53% and corporate 10.00% of AUM, so no single segment carries the whole book.
- Net interest margin was 8.08% for the six months to September 2025 and 8.86% in FY25, with yield on advances of 15.98% in FY25. Margins this high leave room to absorb credit costs.
- Capital is comfortable on the numbers. Capital adequacy (CRAR) was 17.41% at 30 September 2025, with Tier I at 14.49%.
- The company holds an AA+ credit rating, unchanged across the periods shown in the DRHP, and its average cost of borrowings was 8.05% for the six months to September 2025.
- The customer franchise grew to 13.21 million customers by September 2025 from 9.63 million at March 2023. Digital collections were 88.46% of the total in the latest period.
Risks
- Profit has fallen sharply. Restated profit after tax was ₹1,099.54 million in FY25 against ₹6,370.48 million in FY24, and the company reported a loss of ₹1,307.56 million for the six months to September 2025.
- Credit costs are heavy. Impairment on financial instruments was ₹28,840.85 million in FY25 against ₹17,223.90 million in FY24, and the credit cost ratio was 5.04% in the latest period.
- Asset quality has weakened over the period. The gross NPA ratio was 5.05% at 30 September 2025 against 4.02% at March 2024, and Stage 3 loans were ₹27,988.24 million.
- Leverage is high, as with most NBFCs. Debt to equity was 8.55 times at 30 September 2025, and total borrowings were ₹5,05,799.83 million, so funding access matters a great deal.
- Return ratios are thin. Return on assets was 0.20% in FY25 and negative 0.47% for the six months to September 2025, and return on equity was negative 4.48% over the same half-year.
- Disbursements have slowed. They were ₹3,30,297.18 million in FY25, down 4.16% from FY24, and fell 9.10% in the six months to September 2025.
- The Enforcement Directorate searched the corporate office and the homes of the chairman and the managing director in August 2023. The company's appeal on seized records was decided in its favour in May 2025, but the managing director's appeal is still pending.
- The company's earlier SEBI approval for an IPO lapsed, and it has since filed a fresh DRHP. Timing of any listing is not confirmed, and unlisted share prices are indicative and traded off-market.
Hero FinCorp financial performance
Revenue, profit and balance-sheet figures by fiscal year.
| Metric | FY25Latest | FY24 | FY23 |
|---|---|---|---|
| Revenue (₹ Cr) | 9,833 | 8,291 | 6,402 |
| PAT (₹ Cr) | 110 | 637 | 480 |
| PAT Margin (%) | 1.12 | 7.68 | 7.50 |
| Debt / Equity | 9.20 | 8.01 | 6.99 |
| Total Assets (₹ Cr) | 60,042 | 53,205 | 43,451 |
| Net Worth (₹ Cr) | 5,753 | 5,766 | 5,243 |
Swipe the table sideways for earlier years →
Events & announcements
More than 12 months have passed since SEBI's approval without an IPO launch, so the approval has lapsed.
Hero FinCorp filed its draft red herring prospectus with SEBI, the first public step towards an IPO.
Buy or sell Hero FinCorp unlisted shares
Get a live quote on WhatsApp in under 60 seconds. Current price ₹945. Shares are delivered to your own demat in 24–48 hours, never to a custodian.
Indicative off-market price, not an exchange quote. Read the disclaimer.
Hero FinCorp unlisted shares: common questions
Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
