Ashok Leyland’s subsidiary - Hinduja Leyland Finance (HLFL) has withdrawn the Draft Red Herring Prospectus (DRHP) filed with Securities Exchange Board of India (SEBI) for the proposed Initial Public Offering (IPO) of equity shares. The board of directors of HLFL at their meeting held on May 23, 2017 had decided to withdraw the DRHP. The DRHP had been withdrawn from SEBI on June 16, 2017.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.