Hero FinCorp (HFCL) is engaged in the business of financing, leasing, bill discounting and other financial services. HFCL has a wholly owned subsidiary – Hero Housing Finance Limited which is engaged in the business of providing housing loan. The company’s retail business is present at 914 dealership and services are available at more than 2500+ touch points spread across more than 1300+ cities, towns and villages. It’s a loan against Property, SME and Emerging Corporate Business is operating out of 42 locations on the non-retail segment and processes more than 650 applications every month.
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Incorporated in December 1991 as Hero Honda FinLease Limited; the restructuring of parent company Hero MotoCorp Limited, led to present form as Hero FinCorp Limited. The company is a leading non-banking financial company (NBFC).
Today, it is present at close to 2000 retail financing touch-points across Hero MotoCorp’s network, and has partnered with over 2000 satisfied corporate clients. Going forward, it plans to continuously expand our offerings and geographic presence, whilst offering class leading financial services to all sections of our society.
Hero FinCorp is one of India’s fastest growing NBFCs, disbursing a loan every 30 seconds. On the corporate lending front, the company has forged extremely strong relationships with over 2000 high growth companies. We are well on our way towards building India’s largest one-stop financial services company.
HFCL has strong presence of institutional investors like Credit Suisse (Singapore) Limited which holds 2.74% in the company and ChrysCapital which holds 11.64% stake in the company. ICRA Limited has assigned ratings for the various facilities availed by the company as ICRA AA+/Stable.
Board of Directors
D N Davar
Group Company – Hero Housing Finance
Incorporated as a subsidiary of Hero FinCorp, Hero Housing Finance Ltd. (HHFL) comes as a natural extension to the group’s motto of serving the man on the street. Focused on having a diversified presence across India, HHFL is looking to be an all-inclusive housing finance company with offerings across affordable, mid-market and prime segments. The company will focus on end-to-end digital lending to enable a joyful home ownership experience for our customers.
Moody’s assigns ‘Baa3’ rating to Hero FinCorp: July 2019
Global ratings agency has assigned a ‘Baa3’ local and foreign currency issuer rating to Hero FinCorp Limited with a stable outlook suggesting that the Pawan Munjal-led non-banking financial company may raise debt funds through bonds.
Moody’s Investors Service’s ‘Baa3’ rating rationale which has a standalone assessment of ‘Ba3’, a speculative grade, assumes a high likelihood of support from Hero MotoCorp, India’s largest two-wheeler company, which also has a direct stake of 41% in the NBFC.
Hero FinCorp’s promoter group, which includes Hero MotoCorp, other Hero Group entities and individuals linked to the Munjal family, owned 79.9% stake at the end of March 2019. The promoter group, Moody’s report stressed, has consistently infused equity capital in Hero FinCorp along with purchasing shares from the non-promoter shareholders. Notably, Otter Limited and Credit Suisse own a 13% stake in the company.
Hero FinCorp looks to acquire 100% stake in Reliance General Insurance
Hero FinCorp is set to place an offer to acquire 100 percent stake in Reliance General Insurance, as per reports. Reliance Capital is the parent company of Reliance General Insurance. It is likely to seek about Rs 6,000 crore for 100% stake in the latter.