Chennai (IANS) Commercial vehicles major and part of Hinduja group, Ashok Leyland Ltd, said on Monday that it would acquire OHM Global Mobility Private Ltd (OHM India) from OHM International Mobility Ltd for Rs 1 lakh.
In a regulatory filing, Ashok Leyland said post acquisition, it would invest up to Rs 300 crore in OHM India.
According to Ashok Leyland, OHM India is a wholly-owned subsidiary of OHM International Mobility Limited UK (OHM UK).
The promoter, Hinduja Automotive Ltd, directly holds 20 per cent and indirectly through other subsidiaries holds 43.23 per cent in OHM UK from which the shares of the target company are being acquired, Ashok Leyland said.
OHM India is yet to start operations.