International Finance Corporation proposes to invest $100 million in Hero Fincorp's secured debt
Hero Fincorp is primarily into financing of two-wheeler purchases, loans to micro, small and medium enterprises (
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),
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