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03-Jan2019

Ashok Leyland acquires additional 27.25% stake in Ashley Aviation

Ashok Leyland has acquired 10,89,985 shares of Rs 10 each constituting 27.25% in the paid-up share capital of Ashley Aviation (AAL) at a price of Rs 5.10 per share. Consequent to the above acquisition, the company's shareholding in AAL will increase from 49.00% to 76.25% and thus AAL becoming a subsidiary of the company. AAL is engaged in the business of aviation sector.

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.


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