Hinduja Leyland Finance plans to file Rs 1,000 crore IPO in April

SINGAPORE: Hinduja Leyland Finance plans to file a draft prospectus later this month as it looks to revive an IPO of up to Rs 10 billion (US$154m), people with knowledge of the transaction said.

The IPO is likely to be launched in the second half of 2018. The company filed for a Rs 7 billion IPO in 2016 but did not go ahead as the federal governement's demonetisation move affected the businesses of finance companies.

Axis, Citigroup and Yes Securities are the bookrunners this time around. Citigroup was not part of the 2016 syndicate, while ICICI Securities and SBI Capital no longer feature on the mandate. Hinduja Leyland Finance, part of the Hinduja Group, provides loans for the purchase of commercial vehicles.