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Hero FinCorp garners Rs 260 cr from investors in pre-IPO round

Hero FinCorp, the financial services division of two-wheeler manufacturer Hero MotoCorp, has raised Rs 260 crore in a pre-IPO placement round.This fund mobilisation led to a reduction in fresh issue size to Rs 1,840 crore from the earlier planned Rs 2,100 crore.The total IPO size now stands at Rs 3,408 crore, which includes a Rs 1,568 crore offer-for-sale (OFS) by existing investors. This marks a reduction from the earlier planned Rs 3,668 crore.Those selling shares in the OFS are -- AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd.In the pre-IPO round executed on June 5, Hero FinCorp entered into investment agreements with 12 investors, allotting 18.57 lakh shares at Rs 1,400 per share on June 13, ra