Apollo Global plans to invest $125 mn in Hero FinCorp

Apollo Global is all set to invest $125mn which amounts to 940 crores in Indian rupees to buy a stake in Hero FinCorp previously known as Hero Finlease. Hero FinCorp is the financial division of the Hero Group. It has completed three decades in the Indian market. This investment is made under the company’s capital raising scheme. The company intends to raise 2,000 crores from the existing and new investors. With this 940 crore of investment Apollo Global will ultimately acquire a 9%-11% stake in the Non-Banking Financial Company. Other than Apollo Global, Hero MotoCorp has also decided to invest 700 crore who happens to be a major stakeholder in the company at 40% stake. In its last round of funding Hero FinCorp raised 1,074 crores with the support of existing investors in 2019-20 which raised the market capitalization to $1.3 billion.