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Ashok Leyland completes acquisition of 38% stake in Hinduja Tech

26 Feb 2021 Evaluate

Ashok Leyland has completed the acquisition of 58,500,000 shares of Rs 10 each of Hinduja Tech (HTL) from Nissan International Holding BV for a total consideration of Rs 70.20 crore constituting 38% in the paid-up share capital of HTL. Consequent to the said acquisition, HTL has become a wholly owned subsidiary of the company.

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,a defense and special vehicles.

Peers
Company Name CMP
Tata Motors 396.25
Ashok Leyland 145.00
Force Motors 17370.00
Olectra Greentech 951.15
SML Mahindra 4717.95
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