Ashok Leyland is exploring plans to raise about US$200 million (US$200 mn) for its electric mobility services arm OHM Global Mobility Pvt. The commercial vehicle manufacturer, part of the billionaire Hinduja family conglomerate, has engaged an adviser to assess investor interest. The adviser is sounding out global private equity firms and other prospective backers as discussions remain private. The company is evaluating whether to pursue a minority investment or a larger stake sale as part of the review.

The potential funding round could value the unit at between US$800 mn and US$one billion (US$one bn). Such a valuation would reflect growing investor appetite for mobility services and electric vehicle ecosystem plays across markets. Analysts say such a valuation would place OHM among leading independent mobility platforms in the region, though comparisons are tentative. Sources familiar with the matter indicate that the discussions are at an early stage and subject to change.

The Hinduja family retains the option to withdraw from the process if investor bids do not meet valuation expectations. The move is part of a broader strategy to monetise non-core assets and to secure capital for scaling services, including fleet electrification and operations. The process may involve competitive pitches and detailed due diligence if the Hinduja family proceeds. Any decision would depend on the level and terms of investor interest rather than a predetermined timetable.

Industry participants note that interest from private equity would underscore the commercialisation potential of integrated electric mobility services, including charging, fleet management and related software platforms. Ashok Leyland may use proceeds to accelerate product development and geographic expansion of OHM Global Mobility Pvt. Market observers add that the outcome could influence similar transactions in the electric mobility services sector. The company and the adviser have not publicly disclosed details while talks continue.