Ashok Leyland, the Hinduja Group flagship company in India, is seeking shareholders' approval to raise money through Qualified Institutional Buyers (QIBs) and other routes. The proposed fund raising is to support the company's capex, working capital and investment in joint ventures (JVs) and other purposes.
Meanwhile, the company has lined up capex and investment to the tune of around Rs 250-300 crore during the current fiscal.
Ashok Leyland is engaged in the manufacturing of commercial vehicles and related components. The company's products include buses, trucks, engines, defense and special vehicles.