Ashok Leyland adds more stakes in Hinduja Leyland Finance

India’s leading automaker Ashok Leyland has acquired an additional stake in Hinduja Leyland Finance.

In a filing with BSE on Thursday, Ashok Leyland said, “The company has acquired 1,70,17,995 shares of Hinduja Leyland Finance Limited at the face value of Rs 10 each, constituting 3.62 percent of the paid-up equity share capital.”

“Consequent to the aforesaid acquisition, the company’s shareholding in Hinduja Leyland Finance increased from 61.83 percent to 65.45 percent. The aforesaid acquisition is part of the 6.99 percent acquisition approved by the board at the meeting held on March 21, 2020,” the company in its filing added.