Ashok Leyland clarifies Hinduja Leyland Finance merger reports

Ashok Leyland, in an announcement dated November 27, 2025, addressed a news article published in "The Hindu Businessline" on the same date. The article incorrectly stated that Ashok Leyland had approved a merger by absorption of Hinduja Leyland Finance Limited (HLFL) into NDL Ventures Limited (NDL). Ashok Leyland explicitly stated this news was factually incorrect.

The company clarified that HLFL is a material subsidiary. HLFL's board, at a meeting on November 25, 2025, approved a scheme of merger by absorption of HLFL into NDL, pending regulatory approvals. This intimation was made by HLFL and is material under Regulation 30(9) of SEBI Listing Regulations, prompting Ashok Leyland to inform stock exchanges on November 26, 2025.

"The Hindu Businessline" has since rectified its news item. Ashok Leyland urged stakeholders to disregard any misleading information previously circulated and affirmed its commitment to promptly disclosing material information in compliance with regulatory requirements.