Ashok Leyland is reportedly planning to raise Rs 300 crore via dual tranche bonds, which are rated ‘AA-’ by ICRA. The company will issue three-year bonds at 9.45% and five-year bonds at 9.60%. Meanwhile, Axis Bank is the sole arranger to the bond sale.
For the year ended March 31, 2013, the company registered 23.37% fall in its net profit at Rs 433.70 crore in FY13 as against Rs 565.97 crore in previous years. Total income of the company has decreased to Rs 12481.20 crore as compared to Rs 12904.32 crore in FY12, down by 3.28%.
