Home NewsStock Market News Hinduja Leyland: Hinduja Leyland Finance raises Rs 910 crore via QIB

Hinduja Leyland: Hinduja Leyland Finance raises Rs 910 crore via QIB

by WOOWinvest
0 comment
Hinduja Leyland: Hinduja Leyland Finance raises Rs 910 crore via QIB


New Delhi: Non-banking financial firm Hinduja Leyland Finance (HLF), a subsidiary of commercial vehicle maker , on Monday announced raising ₹910 crore from Qualified Institutional Buyers (QIB). The company’s board approved the allotment of issuance of 65 million equity shares of ₹10 each at an issue price of ₹140 per share aggregating to the total of ₹910 crore.

Shares will be issued to five QIBs, and they will collectively hold 12.16% in

Leyland Finance after allotment.

With this fund raise through QIBs, parent Ashok Leyland (ALL) shareholding in HLF has fallen from 68.8% to 60.43%, it said.

The infusion leads to increase in capital adequacy ratio of HLF from 18.70% in March 2022 to 22.50%.

The Chennai-based company primarily focuses in the vehicle finance business, having established a presence in the entire spectrum of vehicle business in the country.

The company also focuses on mortgages business and has a presence in affordable housing finance through its fully owned subsidiary Hinduja Housing Finance.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy