Hero Fincorp

(i) Hero FinCorp Limited (HFCL) was incorporated in 1991 as Hero Honda FinLease Limited, due to change in the ownership of its parent, Hero MotoCorp Limited (Formerly known as Hero Honda Motors Limited), the company changed its name to Hero FinCorp Limited.

(ii) HFCL is engaged in the business of financing, leasing, bill discounting and other financial services. HFCL has a wholly-owned subsidiary - Hero Housing Finance Limited which is engaged in the business of providing housing loans.

(iii) In 2020, HFCLs retail business is present at 938 dealership and services are available at more than 4000 touch points spread across more than 1900+ cities, towns and villages. HFCL’s loan against Property, SME and Emerging Corporate Business is operating out of 50 locations on the non-retail segment and processes more than 800 applications every month.

(iv) Subsidiary of Hero FinCorp: The Company has one wholly-owned subsidiary company viz. Hero Housing Finance Limited (“HHFL”). HHFL had started its lending operations from April 2018. It is an all-inclusive housing finance company providing hassle-free home loans PAN India which includes the following products to its customers:

(i) Home Loans,

(ii) Loan Against Property, etc. HHFL has shown tremendous growth and touched loans of INR 556.75 crore during the first year of its operation in FY19.

During the year, Hero-Fin Corp had invested INR 200 crore in HHFL by subscribing to 20,00,00,000 equity shares of the face value of INR 10 each on rights basis.