Categories: Business National

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Non-banking finance company Hinduja Leyland Finance Ltd has decided to scrap its initial public offering plans and has withdrawn its Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India, parent firm Ashok Leyland Ltd said on Wednesday.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

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

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