DSIJ Mindshare

Hinduja Leyland Finance all set for an IPO

Ashok Leyland is the stock to watch out for, once the market digests the response for Hinduja Leyland Finance - a Ashok Leyland arm, Initial Public Offer (IPO). Hinduja Leyland Finance has obtained the Securities Exchange Board of India (SEBI) approval to go for Initial Public Offering of its shares. 

The final observations were shared by SEBI on June 24, concerning the IPO and OFS (Offer for sale). Hinduja Leyland Finance will be issuing fresh equity shares worth Rs 500 crores and the offer-for -sale will be up to 2.66 crore shares allowing existing shareholders to exit the company. The pre-offer placement of 2.66 crores shares is expected to fetch not more than Rs 200 crore. 

According to media reports Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities will be the merchant bankers for the public issue.

Ashok Leyland may gain based on the IPO listing of its arm. Investors and traders should keep a tab on the development. 

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