New Delhi: Ashok Leyland Ltd has acquired 27.25% additional stake in Ashley Aviation Ltd, raising its shareholding in the firm to 76.25%, the Hinduja Group’s flagship firm said Wednesday. The company has acquired 1,089,985 shares of ₹ 10 each constituting 27.25% in the paid-up share capital of Ashley Aviation at a price of ₹ 5.10 per share, Ashok Leyland said in a regulatory filing.
The Chennai-based firm said it has acquired the shares for ₹ 55.59 lakh. Consequent to this, the company’s shareholding in Ashley Aviation has increased from 49% to 76.25%, it added.
“The company has also obtained the approval of the Ministry of Civil Aviation in this regard," Ashok Leyland said. Ashley Aviation operates in the aviation sector.
On Wednesday, Ashok Leyland shares fell 2.44% to ₹ 100.05 apiece on the BSE even as the benchmark Sensex lost 1% to end the day at 35,891.52 points.