Ashok Leyland Ltd. along with other investors has entered into a supplemental share purchase agreement with Everfin Holdings to acquire 3.28 crore shares of Hinduja Leyland Finance Ltd. (HLFL) for a cash consideration of ₹390.49 crore.
This follows the decision of Everfin Holdings to sell a part of its stake (constituting 7% in the paid-up share capital of HLFL) in the RBI registered non-banking finance company at ₹119 per share.
The transaction will be spread over nine months in tranches, the company said in a regulatory filing.
Out of 7% holding, about 2.11% has already been acquired by other investors.
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