Ashok Leyland’s subsidiary -- Hinduja Leyland Finance (HLF), has raised Rs 910 crore from Qualified Institutional Buyers (QIB). The company's board approved the allotment of issuance of 65 million equity shares of Rs 10 each at an issue price of Rs 140 per share aggregating to the total of Rs 910 crore.
With this fund raise through QIBs, parent Ashok Leyland (ALL) shareholding in HLF has fallen from 68.8 per cent to 60.43 per cent. The infusion leads to increase in capital adequacy ratio of HLF from 18.70 per cent in March 2022 to 22.50 per cent.
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.
