Ashok Leyland Limited (NSEI:ASHOKLEY) acquired an additional 27.25% stake in Ashley Aviation Limited from shareholders for INR 5.6 million on January 2, 2019. Under the terms, Ashok Leyland Limited acquired 1.09 million shares of Ashley Aviation Limited at a price of INR.5.10 per share. Pre-acquisition, Ashok Leyland Limited had 49% stake in Ashley Aviation Limited. Post completion, Ashok Leyland Limited holds 76.25% stake in Ashley Aviation Limited. As per the transaction, Ashley Aviation Limited became a subsidiary of Ashok Leyland Limited. Ashley Aviation Limited reported revenue of INR 96.21 million and net loss of INR 33.62 million as of March 31, 2018. Ashok Leyland Limited obtained the approval of the Ministry of Civil Aviation. Ashok Leyland Limited (NSEI:ASHOKLEY) completed the acquisition of an additional 27.25% stake in Ashley Aviation Limited from shareholders on January 2, 2019.