Hinduja Leyland Fin raises Rs 910 cr from qualified institutional buyers

Non-banking financial firm Hinduja Leyland Finance (HLF), a subsidiary of commercial vehicle maker Ashok Leyland, on Monday announced raising Rs 910 crore from Qualified Institutional Buyers (QIB).

The Company’s board of directors approved the allotment of issuance of 65 million equity shares of Rs 10 each at an issue price of Rs 140 per share aggregating to the total of Rs 910 crore. Shares will be issued to five QIBs, and they will collectively hold 12.16 per cent in HLF after allotment.

With the fund raised through QIBs, parent Ashok Leyland (ALL) shareholding in HLF has fallen from 68.8 per