Photo: Abhijit Bhatlekar/MintMumbai: Hinduja Leyland Finance, the commercial vehicle financing unit of truck maker Ashok Leyland Ltd, is looking to revive its plan for an initial public offering (IPO), two people aware of the development said. Hinduja Leyland Finance, however, deferred its plans to go public despite receiving the markets regulator’s approval. Consequent to the share purchase, Ashok Leyland’s ownership in Hinduja Leyland Finance increased to 61.9%, according to the filing. Emails sent to Sachin Pillai, chief executive officer and S. Nagarajan, chairman of Hinduja Leyland Finance, enquiring about the company’s plans did not elicit any response. Hinduja Leyland Finance recorded revenue of Rs1,486.31 crore in financial year 2016-17, compared with Rs1,145.69 crore in the previous year, according to stock exchange filings by Ashok Leyland.

Source: Mint January 28, 2018 18:11 UTC