Ashok Leyland has invested a sum of Rs 24.95 crore in TVS Trucks and Buses (TVS Trucks) by way of Equity shares. Consequent to the allotment by the Board of Directors of TVS Trucks, the Company’s shareholding in TVS Trucks is 49.9%, by virtue of which, TVS Trucks has become an associate company. The objective of investment is to strengthen the Company’s automotive business.
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.
