According to local news reports, the investment would net Everstone with a ten per cent stake in the company, which is looking to raise its assets under management to $1bn.
Other prospective investors include Temasek Holdings and AIF Capital.
Hinduja Leyland Finance is a wholly owned subsidary of Ashok Leyland – the second largest truck manufacturer in India.
It was established as a non-banking financing company to provide finance for commercial and private vehicles.
Back in June it was reported that the company was in talks to sell a stake to raise capital for business growth
In May Everstone Capital bought a majority stake in Indian salon owner R&R for about $11m.
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