The board agreed to infuse in one or more tranches for UHM India to meet the business requirements of OHM India, Ashok Leyland said in its exchange filing.
The acquisition is a part of the company s EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS.
Ashok Leyland Board Monday approved the acquisition of 100%of Ohm Global Mobility Private Ltd (OHM) from OHM International Mobility Ltd for a nominal consideration of INR 1 lakh. It will transfer the existing E-MaaS ((Electric Mobility as a Service) contracts to OHM subject to necessary approvals, the company said.