Hinduja Leyland Finance all set for an IPO
DSIJ Intelligence / 28 Jun 2016
Ashok Leyland is the stock to watch out for, once the market digests the response for Hinduja Leyland Finance - a Ashok Leyland arm, Initial Public Offer (IPO). Hinduja Leyland Finance has obtained the Securities Exchange Board of India (SEBI) approval to go for Initial Public Offering of its shares.
Ashok Leyland is the stock to watch out for, once the market digests the response for Hinduja Leyland Finance - a Ashok Leyland arm, Initial Public Offer (IPO). Hinduja Leyland Finance has obtained the Securities Exchange Board of India (SEBI) approval to go for Initial Public Offering of its shares.
The final observations were shared by SEBI on June 24, concerning the IPO and OFS (Offer for sale). Hinduja Leyland Finance will be issuing fresh equity shares worth Rs 500 crores and the offer-for -sale will be up to 2.66 crore shares allowing existing shareholders to exit the company. The pre-offer placement of 2.66 crores shares is expected to fetch not more than Rs 200 crore.
According to media reports Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities will be the merchant bankers for the public issue.
Ashok Leyland may gain based on the IPO listing of its arm. Investors and traders should keep a tab on the development.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.