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Ashok Leyland to fully acquire OHM India to infuse Rs 300 cr
2023-08-16
On Monday, Ashok Leyland, the parent company of the Hinduja Group, announced that it would entirely purchase OHM Global Mobility Pvt Ltd from OHM International Mobility Ltd and invest Rs 300 crore in the newly acquired company. According to a regulatory filing by Ashok Leyland, OHM Global Mobility Pvt Ltd (OHM India) is a fully-owned subsidiary of OHM International Mobility Ltd UK (OHM UK).
The promoter, Hinduja Automotive Ltd, directly owns 20% and indirectly, through other subsidiaries, owns 43.23 percent of OHM UK. The purchase is a component of the company's EV plan to operate in the eMaaS (e-Mobility as a Service) market. It was suggested that this would probably lead to an improvement in operational efficiency and synergy.
OHM India intends to engage in business in the areas of transportation, logistics management and operation, and eMaaS.
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