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Ashok Leyland strengthens as its financing arm to raise Rs 600-650 crore through IPO

22 Sep 2015 Evaluate

Ashok Leyland is currently trading at Rs. 92.00, up by 3.70 points or 4.19% from its previous closing of Rs 88.30 on the BSE.

The scrip opened at Rs. 88.90 and has touched a high and low of Rs. 92.30 and Rs. 88.90 respectively. So far 1113446 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 99.50 on 18-Aug-2015 and a 52 week low of Rs. 37.65 on 24-Sep-2014.

Last one week high and low of the scrip stood at Rs. 92.30 and Rs. 86.40 respectively. The current market cap of the company is Rs. 26224.75 crore.

The promoters holding in the company stood at 38.82% while Institutions and Non-Institutions held 32.56% and 16.24% respectively.

Hinduja Leyland Finance (HLF), the commercial vehicles financing subsidiary of Ashok Leyland, is planning to raise Rs 600-650 crore through an initial public offering (IPO).

The firm has hired five banks to manage the IPO process. The firm is planning to list on the stock markets by the second half of the next financial year. Private equity firm Everstone Group, which is an investor in the company, will make a partial exit through the IPO.

The IPO will help the company to strengthen its capital base and to expand its lending business, which has recently seen the addition of a new category of housing loans, said the third person mentioned above.

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.

Ashok Leyland Share Price

169.90 -0.80 (-0.47%)
24-Apr-2026 16:59 View Price Chart
Peers
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Ashok Leyland 169.90
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