Everstone Capital revealed that it had agreed to invest around INR200 crore in Hinduja Leyland Finance. Hinduja Leyland Finance is a non-banking financial company of the Hinduja group. Everstone Capital is a real estate fund and private equity group invested mainly in India.

Everstone purchased a sizeable minority stake in the non-banking financial unit of the Hinduja group. The financial details of the transaction, though, was not revealed.

Hinduja Leyland Finance had been in discussions with a range of private equity groups such as Temasek, AIS Capital, and Everstone Capital. It had offered around 10% of the company to raise around INR100 crore for intended for business expansion.

Advisors to the transaction were Ernst & Young and Spark Capital.

The commercial vehicle financing business of the Hinduja group began its operations in 2010 with an initial capital of INR225 crore. Today, with assets under management of over INR4,000 crore, it is now one of the biggest financiers of Indian commercial vehicles.