Ashok Leyland has acquired 1,70,17,995 shares of Rs 10 each constituting 3.62% of the paid-up equity share capital of Hinduja Leyland Finance (HLFL), a subsidiary of the Company. Consequent to the aforesaid acquisition, the Company’s shareholding in HLFL stands increased from 61.83% to 65.45%.
The aforesaid acquisition is part of the 6.99% acquisition approved by the Board at the meeting held on March 21, 2020.
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.
