Ashok Leyland picks 3.62% stake in Hinduja Leyland Finance for Rs 202 cr

It may be noted that Ashok Leyland decided to acquire 9% stake in HLFL as against its original plan to acquire 19%

Ashok Leyland has acquired a 3.62 per cent stake in Hinduja Leyland Finance Ltd (HLFL), a subsidiary of the company, for Rs 202 crore. Following the acquistion, the company's shareholding has increased to 65.45 per cent.

The acquisition is part of the 6.99 per cent stake purchase approved by the Board at the meeting held on March 21.

The commercial vehicle major today informed exchange that the Company has acquired 1,70,17,995 shares of Rs 10 each, constituting 3.62 per cent of the paid-up equity share capital of Hinduja Leyland Finance Limited for Rs 119 per share.

Ashok Leyland had decided