Ashok Leyland Limited has secured in-principle approval from its Board of Directors to raise funds through the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹300 crore. The debentures will be issued in one or more tranches or series on a private placement basis, allowing the company to access capital debt markets efficiently. This move is aimed at bolstering the company's financial resources for general corporate purposes or debt repayment, though specific utilization plans were not disclosed in the filing.

The Board has authorized the Fund-Raising Committee to determine and finalize the precise terms and conditions, including the coupon rate and tenor, regarding the issuance and allotment of these NCDs. This delegation provides the committee with the flexibility to time the market and structure the tranches favorably. The company stated that detailed disclosures required under Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 will be made available at the time of the actual issuance or allotment of the securities.

The regulatory framework governing this issuance includes SEBI Circular No. SEBI/HO/CFD/CFD PoD1/P/CIR/2023/123 dated July 13, 2023. The Board meeting, where this decision was ratified, commenced at 11:00 a.m. IST and concluded at 2:45 p.m. IST on May 28, 2026. The approval follows a prior communication to the exchanges dated May 18, 2026, indicating the company's intent to explore fund-raising options.

Key Details of the Fundraising

The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited on May 28, 2026. N Ramanathan, Company Secretary, signed the filing on behalf of Ashok Leyland Limited.

Ashok Leyland Limited will hold its 77th Annual General Meeting on August 14, 2026, through video conferencing and other audio-visual means. The Board of Directors approved the decision to convene the meeting during a session held on May 28, 2026. This virtual format allows shareholders to participate remotely.

The Board meeting, which finalized the AGM date, commenced at 11:00 a.m. IST and concluded at 2:45 p.m. IST. The company has confirmed that the statutory proceedings for the annual general meeting are now set in motion.

Meeting Details

The 77th Annual General Meeting is scheduled for the following date and mode:

Shareholders of Ashok Leyland can attend the meeting without being physically present. The company will facilitate participation through the specified electronic means.