Hero Future Energies, backed by KKR and IFC, has appointed four investment banks for its ₹5,000 crore IPO. The funds will support its goal of reaching 30 GW capacity by 2030, expanding into green hydrogen and e-methanol, and adopting AI-driven grid solutions, strengthening its global renewable energy position.

Hero Future Energies Taps Four I-Bankers for ₹5,000 Crore IPO

Hero Future Energies (HFE), the renewable energy arm of Hero MotoCorp, is gearing up for a ₹5,000 crore initial public offering (IPO), marking a significant leap in its growth journey. The IPO mandate has been awarded to four top investment banks—JM Financial, Axis Capital, Nomura, and Bank of America—following strong initial feedback from ESG-focused investors.

Backed by global investment giants KKR and IFC, HFE plans to utilize the IPO proceeds to scale its operations and accelerate its vision of achieving 30 GW of renewable energy capacity by 2030. The company currently has an installed capacity of 1.9 GW and 3.4 GW under construction across India, Vietnam, Ukraine, and the UK.

Founded in 2012, HFE has emerged as a major player in the clean energy space, focusing on wind, solar, and battery storage projects. The company is also making strategic moves into emerging sectors like green hydrogen and e-methanol, reinforcing its commitment to sustainable and innovative energy solutions.

In September 2024, HFE announced a $20 billion investment plan aimed at reaching its 2030 goals. Additionally, it has pledged over ₹11,000 crore toward renewable projects in Karnataka, further establishing its leadership in India’s green transition.

The IPO will also fund advanced technology initiatives, including AI-driven grid optimization and next-gen energy storage systems, positioning HFE to compete head-on with global renewable energy giants.

As India intensifies its clean energy push, Hero Future Energies' upcoming IPO is not just a capital raise—it’s a bold statement of intent to lead the charge toward a more sustainable future.