Ashok Leyland's Subsidiary Buys Additional 1.01% Stake in Switch Mobility

Ashok Leyland’s UK-based subsidiary, Optare Plc, has acquired an additional 1.01% equity stake in Switch Mobility Limited (SML UK) from Dana Ltd. With this, Optare’s holding in the electric vehicle company has increased from 98.56% to 99.57%.

The transaction was formalised through a share purchase agreement between Optare Plc (buyer) and Dana Ltd (seller). The event took place on June 3, 2025, as per the disclosure made under SEBI's Listing Obligations and Disclosure Requirements.

Revised Shareholding Pattern

After the transaction, Optare Plc and Hinduja Automotive Ltd (UK), both entities under the Hinduja Group, together hold a 100% stake in SML UK.

Purpose of Acquisition

The acquisition gives full operational and financial control of SML UK to the Hinduja Group entities. This change consolidates ownership under one group and may streamline internal decision-making structures across Switch Mobility’s functions and markets.

Timeline and Disclosure

The official communication was sent to both the National Stock Exchange of India Ltd. and BSE Ltd. on June 4, 2025. The disclosure was signed by N Ramanathan, Company Secretary of Ashok Leyland.

Company Background

Switch Mobility is the electric mobility unit of Ashok Leyland. It focuses on the production and development of electric buses and light commercial vehicles. The company is headquartered in the UK and operates in multiple markets, including India and Europe.

Read More:  Ashok Leyland Q4 FY25 Earnings Results: Declares 1:1 Bonus, Reports ₹3,303 Crore Profit!

Ashok Leyland Share Price Performance 

As of 09:21 AM on June 11, 2025, Ashok Leyland share price stood at ₹242.15, a 0.34% increase. The stock has seen a 4.38% rise over the past 6 months and a 1.40% rise over the past year.

Conclusion

Optare Plc’s purchase of Dana Ltd’s remaining 1.01% stake marks the completion of a full ownership transfer of Switch Mobility to Ashok Leyland and its group entities. The transaction showcases a structural shift in shareholding but does not indicate any immediate operational changes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.