Ashok Leyland announces change in ratio of GDRs

Ashok Leyland announced that effective 17 June 2024, the ratio between the GDRs and Shares of the Company has been changed from 60 : 1 (One GDR equivalent to 60 underlying shares) to 1:1 (One GDR is equivalent to One underlying share).

Accordingly, 59 new GDR(s) were issued by the Depositary for every 1 existing GDR held by the GDR holder(s) on the GDR Record Date viz., 10 June 2024 in line with the new ratio.

Consequent to the above ratio change, the total number of GDRs stands increased from 5,881,169 to 352,870,140.

It shall be noted that there is no change to the underlying shares / equity share capital of the Company, due to the ratio change of the GDRs.

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