Ashok Leyland board approves raising of Rs 200 cr through debentures

The fundraising committee of the company's board of directors at its meeting on Friday approved private placement of secured, rated, listed, redeemable, non-convertible debentures of a face value of Rs 10 lakh each, aggregating up to Rs 200 crore, Ashok Leyland said in a regulatory filing. These could be issued in one or more tranches to certain eligible investors permitted to invest in the non-convertible debentures (NCDs) under applicable laws, it added.

Hinduja flagship firm Ashok Leyland on Friday said its board has approved raising of Rs 200 crore through issuance of securities on a private placement basis. The fundraising committee of the company's board of directors at its meeting on Friday approved private placement of secured, rated, listed, redeemable, non-convertible debentures of a face value of Rs 10 lakh each, aggregating up to Rs 200 crore, Ashok Leyland said in a regulatory filing.

These could be issued in one or more tranches to certain eligible investors permitted to invest in the non-convertible debentures (NCDs) under applicable laws, it added. On Tuesday, the company had said its board will meet on Friday to discuss plan to raise Rs 200 crore via issue of NCDs.