Hinduja Leyland Finance Ltd., a non-banking finance company of the Hinduja Group, which had deferred its Initial Public Offering, is adopting a wait-and-watch policy for investors’ confidence to return, its chief executive officer Sachin Pillai said in an interview. Edited excerptsYou planned to raise funds via IPO twice, but it was deferred. Why? We had filed the document in June 2018 and got approval in September. We started roadshows in India and the Asian market. Then, the DHFL issue came out. Post that, there has been a lack of confidence as far as the Indian BFSI, NBFC, HFI segments were concerned. That caused us not to go ahead with road shows and to wait and watch. After that, on a regular basis for two to three months, more names got added. Investor confidence has not yet come back.How are you managing funds under these circumstances?In January, ₹200 crore came from existing shareholders. Over the last 16 to 18 months, the promoters and shareholders have put in ₹900 crore. While the intent of the group is to list the company, the capital was always made available. Growth was never compromised for want of capital. We are always well-capitalised. We will again… Read full this story
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Awaiting right time for IPO, says Hinduja Leyland Finance CEO have 338 words, post on www.thehindu.com at December 14, 2019. This is cached page on xBlogs. If you want remove this page, please contact us.