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Hinduja Leyland Finance to disburse Rs.850 crore
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SME Times News Bureau | 02 Apr, 2010
Non-banking finance company (NBFC) Hinduja Leyland Finance Limited is planning to disburse Rs.850 crore in the first year of its operations.
The company, which recently got the certification of registration from the Reserve Bank of India (RBI), is ready to roll out its operations in 130 centres spread over 16 States.
It is expected to play a major role in financing of another Hinduja group company, Ashok Leyland's trucks as well as other vehicles like light commercial vehicles, construction equipment that the latter would manufacture with joint venture partners.
The company's Rs.100 crore share capital is put in by three group companies - Ashok Leyland, Ashley Holdings Ltd and Ashley Investments Ltd.
Hinduja Leyland Finance is the reincarnation of Ashok Leyland Finance that was merged with IndusInd Bank years ago.
"We hope to replicate the success of Ashok Leyland Finance, drawing from its proven strengths and the immense goodwill among all stakeholders," S. Nagarajan, director-in-charge, said Thursday.
The company is talking to leading bankers for funding the planned disbursement of Rs.850 crore in the first year.
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