Hero FinCorp. Incorporated in December 1991 as Hero Honda Fin Lease Limited; the restructuring of our parent company Hero MotoCorp Limited, led to our present form as Hero FinCorp Limited.
The company was launched in 1992 as Hero Honda Finlease Ltd by extending working capital loans and medium-term finance to component suppliers and dealers of parent firm Hero MotoCorp, and then called Hero Honda Motors Ltd.
In 2011, as Hero Honda Motors was restructured, the company was renamed Hero FinCorp and acquired its present form. By April 2013, the company began giving two-wheelers loans to customers. In 2014, it ventured into loans against property, loans for small and medium enterprises and commercial loans.Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers. The firm claims to have over 350,000 active two-wheeler customer loans in June 2015. It plans to be present in over 730 Hero MotoCorp dealerships by end of March 2016.
Hero FinCorp provides financing options for its existing customers who have availed loans to purchase two wheelers from Hero MotoCorp. Customers with good track record of repayment are offered a Top up Loan, called Loyalty Personal Loan (LPL). Fulfillment through the diverse dealership network of Hero MotoCorp combined with wide front office network of CAMS is enabled.Hero FinCorp (an associate company of Hero MotoCorp), is an Indian Non-Banking Financial Company (NBFC). The company is currently engaged in consumer finance businesses and commercial lending. Consumer Finance includes financing Hero MotoCorp Two Wheeler, Loyalty Customer Loans (top up loans for existing customers) and providing Loans against property.
The company has recently started financing of used cars for both salaried and self-employed individuals. The company offers customizable tenures and payment options. Leading auto portal, CarDekho.com has partnered with Hero FinCorp, a leading non-banking financial company; to bring comprehensive financing options to its used car buyersThe company provides loans against property to corporates, partnership firms and self-employed individuals for up to 15 years with customizable interest rates. Hero FinCorp recorded a turnover of Rs.298.62 crore in 2014-15. In September 2016, Hero FinCorp announced that they have risen about INR 1002 crore from internal as well as external sources.
Around INR 702 was raised from ChrysCapital, a private equity firm, and Credit Suisse, a Swiss financial services firm. The remaining INR 300 Crore, was raised from the Hero Group.ChrysCapital will take an 11% stake in Hero FinCorp while Credit Suisse will hold around 2.5%. This transaction had valued the company around INR 5,200 crore.
The funds will be deployed to help the company achieve its growth strategy over the next 12 to 18 months. The strategy entails entering new product segments, such as home loans and used two-wheeler loans and by further augmenting existing businesses, with special focus on used car finance, consumer durable and SME lending.In the year 2011 the company was renamed as Founder of Hero Fincorp Ltd. Is B.M.L. Munjal .HERO FINCORP LIMITED. The Equity infusion of Rs. 106cr in 2013 & 2014 equity infusion of312cr… The promoters of HERO FINCORP LTD. Is PawanMunjal, ReenuMunjal & AbhimanyuMunjal