Ashok Leyland acquires 27.25% more stake in Ashley Aviation

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Hinduja group flagship firm Ashok Leyland said it has acquired 27.25 percent additional stake in Ashley Aviation (AAL), raising its shareholding in the firm to 76.25 percent company has acquired 10,89,985 shares of Rs 10 each constituting 27.25 percent in the paid-up share capital of AAL at a price of Rs 5.10 per share, Ashok Leyland said in a regulatory filing.

The Chennai-based firm said it has acquired the shares for Rs 55.59 lakh.

Consequent to this, the company's shareholding in AAL has increased from 49 percent to 76.25 percent, it added.

"The company has also obtained the approval of the Ministry of Civil Aviation in this regard," Ashok Leyland said.