Ashok Leyland’s board has approved raising of Rs 200 crore through issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, on a private placement basis. These could be issued in one or more tranches to certain eligible investors permitted to invest in the NCDs under applicable laws. The fundraising committee of the company's board of directors at its meeting on June 19, 2020 has approved the same.
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.
