Ashok Leyland Allots 80.7 Million Shares To Shareholders Of Hinduja Foundries

Ashok Leyland, an automobile manufacturing company, on Tuesday announced that under the scheme of amalgamation of Hinduja Foundries with Ashok Leyland, the company has allotted 806,58,292 equity share of face value Rs 1 each, fully paid-up to the equity shareholder of Hinduja Foundries as on record date of June 7 2017.
Consequent to the said allotment, the paid-up share capital of the company has gone up to Rs 292.65 crore.
The stock on the NSE has delivered negative returns of 9% in a period of one year and has underperformed the BSE Sensex and BSE Auto indices over the same time span.
Ashok Leyland Limited is engaged in commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in medium and heavy commercial vehicle, light commercial vehicles, passenger vehicles, automotive aggregates, vehicle financing and engineering design services.

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