Investment12 Feb 2025, 08:10 pm
Ashok Leyland to Invest up to GBP 45 Million in UK Subsidiary Optare Plc. and up to Rs. 200 Crs. in Hinduja Leyland Finance Ltd.
AI Summary
Ashok Leyland Ltd. has announced that its Board of Directors has approved investments in two of its subsidiaries. The company plans to invest up to GBP 45 million (equivalent to Rs. 500 Crs.) in Optare Plc. UK, a subsidiary, and up to Rs. 200 Crs. in Hinduja Leyland Finance Limited, a material subsidiary. The investments are subject to requisite approvals and requirements. The objectives of the investments include capital expenditure and loan reduction in Optare Plc. and improving the debt/equity and capital adequacy ratios of Hinduja Leyland Finance Ltd.
Key Highlights
- Ashok Leyland to invest up to GBP 45 million in UK subsidiary Optare Plc.
- Additional investment of up to Rs. 200 Crs. in Hinduja Leyland Finance Ltd.
- Investments aimed at capital expenditure, loan reduction, and improving debt/equity ratios.
- Subject to requisite approvals and requirements.
- Optare Plc. is in the business of manufacture and sale of commercial vehicles, while Hinduja Leyland Finance Ltd. is in the business of non-banking financial services.