IFC proposes to invest $100 mn in Hero Fincorp's secured debt


Chennai, Apr 10 (IANS): International Finance Corporation (IFC) plans to invest $100 million in secured debt of Hero Fincorp Ltd belong to the Hero Group.

Hero Fincorp is primarily into financing of two-wheeler purchases, loans to micro, small and medium enterprises (MSME), personal loans, used car purchase loans and corporate loans, IFC said.

According to IFC, the proposed investment will enable Hero Fincorp to expand is loan book across its business verticals.

The company will also deploy three times its loan amount, through its own resources and other sources of funding, towards the same target beneficiaries over the next three years, IFC added.

According to IFC, the consolidated loan portfolio composition of Hero Fincorp includes two-wheeler finance (37 per cent), used car finance (7 per cent), personal loans (11 per cent), home loans (6 per cent), MSME loans (21 per cent) and corporate loans (18 per cent).

The shareholders of Hero Fincorp include Hero MotorCorp Limited (41.2 per cent), investment companies of the Munjal family (38.3 per cent), Credit Suisse (2 per cent), Chrys Capital (10 per cent) and Apis Growth (2 per cent) and HFCL's dealers/employees (6.5 per cent).

  

Top Stories


Leave a Comment

Title: IFC proposes to invest $100 mn in Hero Fincorp's secured debt



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.