Hero FinCorp, the financial service arm of Hero MotoCorp, has received SEBI's approval to launch an IPO to raise ₹3,668 crore. The public offering will be a combination of a fresh issue worth ₹2,100 crore and an offer for sale worth ₹1,568 crore. Proceeds from the fresh issue will be used to increase the company's future capital for onward lending.