Ashok Leyland Ltd. — Capital/Financing Update 2020

Mar 25, 2020

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March 25, 2020

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai - 400 051

Scrip Code : ASHOKLEY

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Scrip Code : 500477

Through : NEAPS

Through: BSE Listing Centre

Dear Sir/Madam,

Sub: Regulation 30 (Disclosure of events or information) - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

In continuation to our letters dated March 18, 2020 and March 21, 2020, we hereby inform you that the Company has acquired 1,70,17,995 shares of Rs.10/- each, constituting 3.62% of the paid-up equity share capital of Hinduja Leyland Finance Limited ("HLFL"), a subsidiary of the Company.

Consequent to the aforesaid acquisition, the Company’s shareholding in HLFL stands increased from 61.83% to 65.45%. The aforesaid acquisition is part of the 6.99% acquisition approved by the Board at the meeting held on March 21, 2020.

The details required under Regulation 30 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given as an annexure.

We request you to kindly note and take the above information on record.

In line with the circular issued by Stock Exchange(s), this intimation is filed without signature due to administrative reasons.

Thanking you,

Yours faithfully, For ASHOK LEYLAND LIMITED

N Ramanathan

Company Secretary

Encl: a/a

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			Annexure	Annexure	Annexure	Annexure	Annexure
S.No.	Details of the events		Information of such events
1.	Name of the Target entity, details in brief such as size, turnover etc.		Hinduja Leyland Finance Limited (HLFL), a subsidiary of the Company. Revenue as on March 31,2019: Rs.2560.64 Crores
2.	a. whether the acquisition would fall within related party transaction(s) b. whether the promoter/ promoter group/ group companies have any interest in the entity being acquired c. If yes, nature of interest and details thereof and whether the same is done at “arm’s length”		No Yes, being shareholder of HLFL. Yes, the proposed acquisition of equity shares of HLFL is at arm’s length
3.	Industry to which the entity being acquired belongs		Non-Banking Finance Company
4	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)		Consolidation of holding
5.	Brief details of any governmental or regulatory approvals required for the acquisition		Not applicable
6.	Indicative time period for completion of the acquisition		In tranches on or before July 31, 2020
7.	Nature of consideration - whether cash consideration or share swap and details of the same		Cash
8.	Cost of acquisition or the price at which the shares are acquired		Rs.119/- per equity share
9.	Percentage of shareholding/control acquired and/or number of shares acquired		3.62% of the total paid up capital of HLFL.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years’ turnover, country in which the acquired entity has presence and any other significant information (in brief);		HLFL is an RBI registered Non-Banking Finance Company. The audited financials of the last three years are given below: Rs. in Crores Particulars FY 2018-19 FY 2017-18 FY 2016-17 Revenue 2560.64 1961.27 1511.11 Profit after Tax 275.64 182.04 167.53
			Particulars	FY 2018-19	FY 2017-18		FY 2016-17
			Revenue	2560.64	1961.27		1511.11
			Profit after Tax	275.64	182.04		167.53

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