15/08/2023 9:53:30 AM | Source: IANS
Ashok Leyland to acquire Hinduja group company OHM Global Mobility
Commercial vehicles major and part of Hinduja group, Ashok Leyland Ltd, said on Monday that it would acquire OHM Global Mobility Private Ltd (OHM India) from OHM International Mobility Ltd for Rs 1 lakh.
In a regulatory filing, Ashok Leyland said post acquisition, it would invest up to Rs 300 crore in OHM India.
According to Ashok Leyland, OHM India is a wholly-owned subsidiary of OHM International Mobility Limited UK (OHM UK).
The promoter, Hinduja Automotive Ltd, directly holds 20 per cent and indirectly through other subsidiaries holds 43.23 per cent in OHM UK from which the shares of the target company are being acquired, Ashok Leyland said.
OHM India is yet to start operations.
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
South Korean battery firms make record investments a...
Nifty immediate support is at 22800 then 22600 zones...
Pre-Budget Quote on lowering the TCS on overseas inv...
IPO Note : Denta Water & Infra Solutions Ltd By Geoj...
Market Watch: Asia follows US higher - Geojit Financ...
BHIM partners with Fintech Yatra to Advance Financia...
Nifty is expected to open on a positive note and lik...
Mahindra Leads with First-of-Its-Kind `Returnship` f...
FIIs Sell Rs.5920.28 Cr in Cash, Rs.2428.17 Cr in In...
Standard Chartered introduces SC PrismFX
