Ashok Leyland has invested a sum of approximately Rs 662.5 crore in Optare Plc. UK by way of Equity shares as first tranche. Consequent to the allotment by the Board of Directors of Optare Plc., the shareholding of the Company in Optare Plc. has increased from 91.63% to 92.19%. Earlier, the company decided to invest Rs 1,200 crore in Switch Mobility as equity through its holding company Optare Plc. UK, in one or more tranches.
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.
