According to sources acquainted with the subject, Hero Fincorp may raise 2,000 crores in equity finance from existing and new investors.

As part of the current financial strategy, Munjal family members might put in 1,100-1,200 crore through their investment businesses, with fresh investors bringing in the rest. The Munjal family owns a large stake in Hero Fincorp, a non-bank loan company.

Hero Fincorp has started a valuation exercise before closing the equity investment transaction. The final contributions of existing and new investors may alter depending on the valuation report.

Discussions with private equity firms like Apollo Global Management are underway, but no final decision has been made. Hero Fincorp refused to comment on "market speculation." The company declined to respond.

In 2019-20, existing investors invested Rs 1,074 crore in the company. Around $1.3 billion was invested in the round.

After 2013, Hero Fincorp expanded into two-wheeler financing and SME and corporate loans. In 2017, it got a housing financing license. The company's loan book is roughly Rs 20,000 crore, split evenly between retail and corporate. The capital adequacy ratio was 19% in March 2021, significantly over regulatory standards.

Hero Motocorp owns roughly 40%. 30–35 percent are owned by family investment businesses and individual Munjal family members. Other stockholders include ChrysCapital, Credit Suisse, Apis Partners, and Hero Motocorp dealers.