Eicher Motors Ltd.

Swedish auto major, AB Volvo is reportedly all set to sell part of its stake in Eicher Motors worth $300 million in the secondary market thus marking the exit of the foreign company from the Indian motorcycle maker. 

Volvo, which holds 8.4% stake in Eicher Motors, is selling half of its stake at zero to eight per cent discount at a price band of Rs 14,636 a share to Rs 15,907 a share, terms of the transaction showed.  Bankers say the books opened and the demand for the share sale was low.

Eicher Motors is one of India’s leading manufacturer of leisure bikes and has a market capitalization of Rs 43,000 crore. Volvo and Eicher Motors also have a joint venture called VE Commercial Vehicles to manufacture trucks and buses in India.

Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.