Ashok Leyland invests INR 24.95 cr in TVS Trucks to acquire 49.9% equity stake – ET Auto

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This collaboration positions both the companies strategically in the competitive automotive sector.

New Delhi: Ashok Leyland has invested INR 24.95 crore in TVS Trucks and Buses Private Limited (TVS Trucks), to acquire 49.9% shareholding. This strategic investment makes TVS Trucks an associate company for Ashok Leyland.

The Board of Directors of TVS Trucks officially allotted the equity shares, solidifying the partnership between Ashok Leyland and TVS Mobility Private Limited. TVS Trucks, specializing in the automotive dealership business, has swiftly established its presence in India since its incorporation on June 13, 2023.

TVS Trucks is a joint venture with TVS Mobility Private Limited, where it holds a majority stake of 50.1%, while Ashok Leyland now commands a 49.9% shareholding.

This collaboration positions both the companies strategically in the competitive automotive sector.

  • Published On Feb 23, 2024 at 05:17 PM IST

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