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Hero FinCorp fund raising plans

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Company profile

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.

Board of Directors

Pawan Munjal

Renu Munjal

Abhimanyu Munjal

D N Davar

Sanjay Kukreja

Pradeep Dinodia

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.

Recent Developments

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.

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