Ashok Leyland raises $200 Mn from overseas

Printer Print Email Email
Chennai: Ashok Leyland, India's second largest commercial vehicle maker, has raised $200 million from international markets for investments both in the domestic market and overseas, a top company official has said.

"The deal got successfully completed at a time when the global financial markets are in turmoil," said K. Sridharan, the company's chief financial officer. "It has been concluded at a very competitive rate."

The external commercial borrowing follows recent joint venture agreements with Nissan to make light commercial vehicles, engines and gearboxes in India.

According to officials, the overseas investment could either be for acquisitions or to set up plants abroad to make commercial vehicles, probably for the Avia brand.
Source: IANS
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Wiley, a global leader in research and education has announced a series of blended learning progr..