Ashok Leyland acquires OHM to house E-MaaS business, will invest Rs 300 cr
Ashok Leyland, the Indian flagship of the Hinduja Group, said on Monday its board has approved the complete acquisition of Ohm Global Mobility Private (OHM) from OHM International Mobility for a nominal consideration of Rs 100,000.
Ashok Leyland said it will invest up to Rs 300 crore as equity in OHM for operationalising the company. E-MaaS (electric mobility as a service) contracts will be transferred to OHM subject after approvals.
As OHM is yet to become operational, the consideration was nominal. OHM will be a 100 per cent subsidiary and any guarantees or comfort letters to be furnished to secure future orders will be provided by Ashok Leyland.
