Hinduja Eyes US$200 Million Sale of Ashok Leyland OHM Mobility Arm

17 Feb 2026 CW Team

Ashok Leyland Ltd is exploring plans to raise about US$200 million (mn) for its electric mobility services arm, OHM Global Mobility Pvt. (OHM). The commercial vehicle manufacturer has hired an adviser to assess interest from prospective investors, including global private equity firms. The discussions are at an early stage and the individuals familiar with the matter asked not to be identified.

The potential funding round could value the unit at between US$800 mn and US$1 billion (bn). The Hinduja family could opt not to proceed with the fundraising if investor appetite falls short of its valuation expectations. There is no certainty that the group will complete a transaction.

The move reflects a wider industry shift as vehicle makers seek external capital to accelerate electrification and expand services. Ashok Leyland, which is part of the Hinduja conglomerate, is positioning the mobility arm to capture growth in electric vehicle fleets and associated services. The adviser is expected to canvass interest from both strategic and financial buyers as it gauges the market.

Valuation outcomes will depend on the unit's scale of operations, revenue trajectory and technology partnerships, and investors will evaluate unit economics and growth clarity. Any investment would be subject to due diligence and customary regulatory approvals, and deals could be structured as minority placements or larger strategic stakes. Company officials have not provided further details while the discussions remain confidential. Market watchers will monitor whether investor demand aligns with the group's expectations and if a formal process is launched.

Proceeds from any investment are likely to be deployed to scale operations, deepen product development and support commercial rollouts of electric vehicle services, industry analysts say. The company will also prioritise partnerships to accelerate technology adoption. Any timetable for deployment remains contingent on final deal terms.

Resources

16 Apr 2026

Savoye appoints Hakim Ramadan as Middle East GM

Savoye has appointed Hakim Ramadan as General Manager for the Middle East, as it accelerates expansion in the region’s growing logistics sector. In his new role, Ramadan will lead regional operations and commercial strategy, focusing on scaling automation-led intralogistics solutions and strengthening customer partnerships across key sectors. The appointment comes as the Middle East logistics market is projected to grow at a CAGR of 7.9 per cent through 2028, driven by e-commerce expansion, automation adoption and infrastructure investments. Commenting on the development, Massimiliano Foc..

GPS Renewables appoints Manan Domadia as SVP

GPS Renewables has appointed Manan Domadia as Senior Vice President, Finance and Banking, strengthening its leadership as it scales operations in the clean energy sector. Domadia brings over 16 years of experience across finance and capital raising, with prior roles at THINK Gas Distribution, IFIN and YES Bank. His expertise spans debt structuring, M&A, FP&A and treasury management, particularly in renewable energy and infrastructure. Commenting on the appointment, Parag Parikh, CEO, GPSR Arya and Group CFO, GPS Renewables, said, “Manan’s experience in structuring projects and ra..

Better Choice Realtors appoints CBRE for asset management

Better Choice Realtors has appointed CBRE as its facility management partner for Vanya City and India World Mart in NCR. Under the mandate, CBRE will deliver end-to-end property and facility management services, aimed at strengthening operational efficiency and enhancing tenant and customer experience across the developer’s assets. The partnership reflects Better Choice Realtors’ focus on institutionalising asset management practices as it expands its portfolio across residential, commercial and SCO developments in Gurugram. Commenting on the development, a company spokesperson said, �..