Hinduja Leyland Finance files prospectus for IPO

Hinduja Leyland Finance Ltd., a non-banking finance company, has filed a draft red herring prospectus for its Initial Public Offering (IPO) with the SEBI. The fresh issue of equity shares is ₹500 crore and offer for sale is ₹600 crore, said S. Nagarajan, executive vice chairman, Hinduja Leyland Finance. Axis Capital, Citi Group Global Markets India and YES Securities are book running lead managers for the issue.

According to him, private equity firm Everstone has over 13% stake in Ashok Leyland’s subsidiary and is looking to dilute 50% of its stake. HLF’s has assets under management stand at around ₹8,500 crore against ₹6,500 crore last year.

In fact, it is the second attempt of the commercial vehicle finance unit to enter the capital market. HLF had filed its earlier DRHP on March 29, 2016 and withdrew it on June 16, 2107. The selling shareholder Everfin Holding granted its consent to withdraw the draft red herring prospectus with the SEBI.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Jan 22, 2022 7:20:08 PM |

Next Story