Hero Fincorp to raise Rs 2,000 cr for growth

Hero Fincorp could raise ₹2,000 crore equity funding from existing and new investors to create a capital buffer for its business, according to people familiar with the matter. Hero Fincorp has initiated a valuation exercise before the equity funding round will be finalised. The final contributions of the existing and new investors could change based on the valuation report, according to people cited.

As per Economic Times, discussions are ongoing with private equity investors like Apollo Global Management, though a final decision is yet to get formalised. Hero Fincorp declined to comment on what it termed "market speculation". Apollo Global Management declined to comment.