1 min read.Updated: 28 Apr 2022, 03:35 PM ISTLivemint
Assuming fund raise happens at $1.6b-1.8b valuations, this implies ₹35-40/share accretion for Ashok Leyland shares, as per Motilal Oswal
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Ashok Leyland’s EV-focused subsidiary, Switch Mobility, is looking to raise $200 m through equity for growth capex. This can potentially lead to re-rating of Ashok Leyland, similar to what happened in Tata Motors (TTMT) post-minority stake sale in the EV business to TPG, said brokerage Motilal Oswal.