Ashok Leyland To Infuse Rs 200 Crore In Finance Arm
The investment in Hinduja Leyland Finance is being made through a preferential issue of shares to the parent.
Ashok Leyland Ltd. on Wednesday announced it will infuse Rs 200 crore in its subsidiary Hinduja Leyland Finance Ltd. ahead of its expected initial public offering. The investment is being made through a preferential issue of shares to the parent.
Hinduja Leyland Finance will issue one crore shares of face value of Rs 10 each at an issue price of Rs 200, according to a stock exchange filing.
Incorporated in November 2008, the company is one of India's leading NBFCs, with key offerings including finance for commercial vehicles, personal vehicles, loans against property, and construction equipment finance.
Hinduja Leyland Finance expects to list on the stock exchanges by the first quarter of fiscal 2026, Ashok Leyland Executive Chairman Dheeraj Hinduja told Financial Express.
The company is currently going through all regulatory processes and approvals.
He also told the publication that the parent will not infuse any more capital after the latest round.
In 2018, Hinduja Leyland Finance filed draft papers for an IPO that comprises of fresh issue of shares worth up to Rs 500 crore and an offer-for-sale of up to 2.19 crore shares.
