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Ashok Leyland invests around Rs 536.73 crore in Optare Plc. UK

13 Feb 2024 Evaluate

Ashok Leyland has invested around Rs 536.73 crore in Optare Plc. UK by way of Equity shares in the second tranche. Consequent to the allotment by the Board of Directors of Optare Plc., the shareholding of the Company in Optare Plc. has increased from 92.19% to 92.59%. The objective of investment is for capital expenditure, R&D and meeting operational requirements of Optare Plc. and Switch Mobility - both in U.K. and India.

Optare Plc., U.K., subsidiary, is into the manufacture and sale of Commercial Vehicles. Optare Plc is the holding Company of the Electric Vehicle initiatives of the Company viz., Switch Mobility, U.K. and Switch Mobility Automotive.

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.

Peers
Company Name CMP
Tata Motors 433.30
Ashok Leyland 169.15
Force Motors 19584.35
Olectra Greentech 1025.40
SML Mahindra 5187.60
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