At meeting held on 14 September 2016
Ashok Leyland announced that the Board of Directors of the Company at their meeting held on 14 September 2016 approved the scheme of amalgamation of Hinduja Foundaries (Transferor Company) with Ashok Leyland (Tranferee Company) with the appointed dated of 01 October 2016. The scheme is subject to approval of shareholders, Hon'ble High Court of Judicature at Madras and all other regulatory approvals.The board also approved the exchange ratio -
- 100 equity shares of Rs 10 each of Hinduja Foundaries will get 40 equity shares of Re 1 each of Ashok Leyland.
- 1000 2008 series GDRs of Hinduja Foundaries will get 133 equity shares of Re 1 each of Ashok Leyland.
- 1 2016 series GDRs of Hinduja Foundaries will get 4,800 equity shares of Re 1 each of Ashok Leyland.
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