Hinduja Leyland Finance scraps IPO plans

Chennai June 21 (IANS) Non-banking finance company Hinduja Leyland Finance Ltd has decided to scrap its initial public offering plans and has withdrawn its Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India parent firm Ashok Leyland Ltd said on Wednesday.

In a regulatory filing in the BSE Ashok Leyland said the Board of Directors of Hinduja Leyland Finance had decided to withdraw the DRHP and this was done on June 16.

According to Hinduja Finance selling shareholder Everfin Holdings has granted its consent for the withdrawal of DRHP.

--IANS
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