Hero FinCorp plans to raise Rs 1000 crore from PE investors

Hero FinCorp fund raising plans
Hero FinCorp plans to raise Rs 1000 crore

Hero FinCorp is looking to raise Rs 1,000 crore in a fresh round of funding from private equity (PE) investors.  Singapore investment firm, Temasek Holdings Pvt. Ltd., and India-focused PE fund, ChrysCapital LLC are in the final stages of talks with Hero FinCorp.

Hero FinCorp will use the funds for expansion of business and diversification to non-organic areas. The company will be focusing on three main non-organic areas – insurance, wealth management and brokerage.

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As part of the deal, the company could dilute partial stake for raising this money.  Currently, Hero MotoCorp has 40% stake in Hero FinCorp.

Hero FinCorp aims to increase its asset size to Rs 35,000 crore by 2020 from the current level of Rs 10,000 crore.

Hero FinCorp is a non-banking finance company (NBFC) and the retail lending arm of Hero MotoCorp. The company has a presence at over 1,000 retail financing touch-points across Hero MotoCorp’s network and has partnered with more than 200 satisfied corporate clients.

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