Everstone Capital will buy a 15% stake in Hinduja Leyland Finance as investments in non-banking finance companies generate better than market returns fuelled by good exposure to India's growing commercial vehicle financing market. The private equity fund, promoted by former Goldman Sachs bankers Sameer Sain and Atul Kapur, will pay Rs 200 crore for the stake, valuing the vehicle financing company at Rs 1,000 crore, according to two investment bankers close to the private equity industry.
"The truck financing business is part of India's entrepreneurial system. It is poised for substantial growth and will rake in good longterm returns," said one of the bankers quoted above. Legal firm Crawford Bayley has drafted the final document and the deal will be announced shortly. S Nagarajan, MD, Hinduja Leyland Finance (HLF), and Everstone Capital declined to comment on specific questions on the subject.

Source - http://economictimes.indiatimes.com