The company, an NBFC of the Hero Group, conducted non-deal roadshows in Hong Kong and Singapore last week, arranged by HSBC, to assess investor appetite for the proposed issue.
While the timing and structure of the issuance are yet to be finalised, the deal is under active consideration. The potential offering follows the company’s $200 million syndicated loan discussion in April. Hero FinCorp is looking to diversify its funding base beyond home before its planned initial public offering.Hero FinCorp is the lending arm of Hero MotoCorp, India’s largest two-wheeler manufacturer. Nearly one-third of Hero FinCorp’s business comes from Hero MotoCorp and its affiliates. Two-wheeler loans account for about 16% of the company’s total AUM, as of last year,. A Hero FinCorp spokesperson did not respond to requests for comment. On May 16, Moody’s affirmed Hero FinCorp’s Ba1 rating with a stable outlook, given the continued support from the promoter group. The firm has also secured regulatory approval from the Securities and Exchange Board of India (Sebi) to raise ₹3,668 crore via IPO.
