Ashok Leyland along with other investors has entered into a Supplemental Share Purchase Agreement with Everfin Holdings, shareholder of Hinduja Leyland Finance (HLFL), for agreeing to acquire collectively, 3,28,14,401 shares of Rs 101 each (constituting 7% in the paid-up share capital of HLFL) at an agreed price of Rs 119 per share. The agreement to acquire the equity shares of HLFL has been spread over a period of 9 months in various tranches.
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.
