Private Equity

PE Fund Investments

Hero Fincorp to raise Rs.2,000-Cr for growth capital

Economic Times  

Hero Fincorp may raise INR 2,000 crore in equity funding from existing and new investors to create a capital buffer for its business. As part of the funding plan that is under deliberation, Hero Motocorp and members of the Munjal family through their investment companies could bring in INR 1,100-1,200 crore of equity funding with new investors bringing in the remaining amount. The company last raised equity funding in 2019-20 when existing investors pumped in INR 1,074 crore. That round valued the company at around USD 1.3 billion. Hero Motocorp owns an around 40% stake. Family investment companies and members of the Munjal family in their individual capacity own 30-35%. The other shareholders include ChrysCapital, Credit Suisse and Apis Partners as well as dealers of Hero Motocorp.