MUMBAI: IPO-bound Hero FinCorp, one of India's leading non-banking financial companies (NBFCs), is betting on 'AI strategies' for growth in the coming years. In addition to deploying artificial intelligence (AI) in its operations, the company's two other focus areas are Aspiring India and asset inclusion as future growth drivers, said Abhimanyu Munjal, Managing Director and CEO of Hero FinCorp.
IPO Plans and Regulatory Nod
The company has initiated the process of going public through an IPO, aiming to raise approximately Rs 3,700 crore. Of this total offer, Rs 2,100 crore is planned from a fresh issue of shares, while the remaining amount will come from an offer for sale (OFS), where some existing shareholders will offload their holdings. Hero FinCorp received regulatory approval from the Securities and Exchange Board of India (Sebi) about a year ago and has until September 2026 to launch the offer.
Focus on Aspiring India
According to Munjal, Aspiring India refers to households with an annual income between Rs 2 lakh and Rs 10 lakh. 'This economic engine is expected to reach 181 million by 2030 as per industry estimates, driving consumption, entrepreneurship, and mobility. Given the company's timely investments in building a pan-India distribution, servicing, and collection capability, comprising a healthy pool of first-time credit borrowers, we are confident in partnering with ambitious, upwardly mobile Indians,' he said.
AI Deployment and Technology
Talking about the use of AI, Munjal said the company has deployed the technology to build a proprietary real-time predictive risk intelligence system, embedding several distinct risk and collection models to track portfolio health dynamically. 'At the same time, we have used AI to supercharge the customer service function, with efficient handling of customer queries, diverse vernacular-language support, digital collections, and real-time monitoring of the portfolio.' He added that the company's tech and AI-led lending architecture has been praised by global leaders from the tech industry.
Portfolio Diversification
Munjal also noted that Hero FinCorp's lending portfolio has evolved significantly since its early days when it only financed two-wheelers. Over the years, it has diversified into retail and MSME loans, providing ample flexibility to pivot towards diverse asset and customer categories if market conditions demand such a move.
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