Everstone Capital, a leading India and South East Asia private equity investor, has signed an agreement to invest Rs 200 crore for an undisclosed stake in the NBFC - Hinduja Leyland Finance (HLF), a commercial vehicle (CV) financing arm of the Hinduja Group.
The Chennai headquartered NBFC is jointly owned by Ashok Leyland and other entities of the Hinduja Group. Led by Mr S Nagarajan, who had previously spearheaded Ashok Leyland Finance and IndusInd Bank, HLF is one of the leading financiers of commercial vehicles with current assets under management in excess of Rs 4,000 crore.
R Seshasayee, Chairman of HLF added further, “I am happy that in Everstone, we found a partner who shares the same vision as the promoters for the growth and development of HLF, as a significant and profitable player in NBFC space.”
