Hinduja Leyland Finance Limited files DRHP for IPO

Hinduja Leyland Finance Limited, a subsidiary company of Ashok Leyland Limited has filed on March 30, 2016 the Draft Red Herring Prospectus with Securities and Exchange Board of India (SEBI) for the proposed initial public offering of equity shares.

The company has proposed an initial public offering of equity shares of Rs. 10 each consisting a fresh issue of equity shares aggregating to Rs. 5000 million and an offer for sale of upto 26,608,810 equity shares by the investor selling shareholder.

The company and the investor selling shareholder are considering a pre-offer placement of up to 26,000,000 equity shares for an aggregate amount not exceeding Rs. 2000 million. If the pre-offer placement is completed, the number of equity shares issued pursuant to the pre-IPO placement will be reduced from the fresh issue, subject to a minimum offer size of atleast such percentage of equity shares as is equivalent to a value being offered to the public.

Axis Capital Limtied, ICICI Securities Limited, SBI Capital Markets Limited and Yes Securities India Limited have been appointed as the Book Running Lead Managers to the offer.

Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.108.1 as compared to the previous close of Rs. 106.65. The total number of shares traded during the day was 1337716 in over 4469 trades.

The stock hit an intraday high of Rs. 108.6 and intraday low of 107.1. The net turnover during the day was Rs. 144322367.

Source : Equity Bulls

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