India’s Ashok Leyland board allots Rs. 2 billion secured debentures

By Sarah Lizee

Olympia, Wash., June 25 – Ashok Leyland Ltd. informed the Bombay Stock Exchange that the fund-raising committee of its board of directors met on Thursday and allotted Rs. 2 billion of secured redeemable nonconvertible debentures on a private placement basis.

The debt will be listed on the wholesale debt market segment of the National Stock Exchange of India Ltd.

Ashok Leyland, based in Chennai, India, is a commercial vehicle manufacturer.

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