Ashok Leyland, Hinduja Group’s flagship company has raised Rs 216.25 crore through selling of about a percent stake in IndusInd Bank to foreign institutional investor Afrin Dia, through an open market deal. The company has sold 50 lakh shares in IndusInd Bank, the banking arm of Hinduja Group, for Rs 432.5 a share.
As of December 2012, Ashok Leyland held a 3.45% stake in IndusInd Bank, while Afrin Dia had a 1.51% stake.
Recently, the company registered a 10% fall in February 2013 sales at 10,046 units as compared to 11,103 units, a year ago. The company witnessed a 26% decline in sales of commercial vehicles - excl SCV (DOST) to 7,045 units in February 2013 from 9,521 units sold in the same month of previous year.
