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 has scheduled a series of investor meetings at three major financial conferences in Mumbai during early June 2026. The company will engage with various funds and investors across the Bank of America India Conference, the Morgan Stanley India Investment Forum, and Citi's India Conference. These physical meetings are intended to provide updates and facilitate discussions with the investment community.

The schedule for the meetings, submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, outlines specific dates, times, and venues for each event. No presentations are intended to be made during these sessions, as the focus remains on direct interaction.

Conference Schedule

The following table details the confirmed schedule for the investor meets:

The meetings will be conducted in hourly slots at the respective venues. Ashok Leyland noted that the schedule is subject to changes if necessary. The disclosure was made by N Ramanathan, Company Secretary, on behalf of the company.