The Fund Raising Committee of Ashok Leyland Ltd has approved the issue and allotment of 18.52 crore equity shares of face value ₹1 each to eligible Qualified Institutional Buyers (QIBs) at the issue price of ₹36 per equity share, aggregating to ₹666.72 crore.
The commercial vehicle manufacturer has informed the BSE about the allotment of equity shares to QIBs after the fund-raising committee’s meeting held on July 4.
On Friday, shares of Ashok Leyland closed at ₹36.10 per share, up 1.55 per cent over the previous close on the BSE.