Hero Future Gears up for Rs 3,500 crore IPO
It is interacting with potential underwriters for the share offering in London, where Hero Future's chairman, Rahul Munjal, has been spending considerable time to help expand the global footprint of the renewable energy generator, said the sources cited above.
Hero Future's 5.2 gigawatt of renewable power generation assets are largely concentrated in India, but it has expanded to the UK, Ukraine, Singapore, Vietnam and Bangladesh.
As per its latest investor presentation circulated to bond holders, the UK is its official headquarters.
Four investment banks could be selected to underwrite the company's initial share sale. Cyril Amarchand Mangaldas is likely to be appointed as the legal counsel. Hero Future Energies' external shareholders KKR and International Finance Corporation (IFC) could trim some of their stakes in the share offering. Hero's Munjal family is the controlling shareholder of the company.
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