February 27th 2017: Hero FinCorp discloses Rs 1000 Cr fundraising plan

Hero FinCorp discloses Rs 1000 Cr fundraising plan

Hero FinCorp, the retail lending arm of Hero MotoCorp, has unveiled its plans 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’s promoters may sell about 20-25% stake for $100-120 million. The funded amount will be used for expansion of business and diversification to non-organic areas. As part of the deal, Hero FinCorp could dilute partial stake for raising this money.

Currently, Hero MotoCorp has 40% stake in Hero FinCorp.

The non-banking finance company (NBFC) 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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http://www.indiainfoline.com/article/news-top-story/hero-fincorp-hero-fincorp-discloses-rs-1000-cr-fundraising-plan-117022300322_1.html