Optare Plc is engaged in the manufacture and sale of buses and commercial vehicles and serves as the holding company for the group’s electric vehicle initiatives, including Switch Mobility in the UK and Switch Mobility Automotive. Incorporated on 23 January 2008, Optare reported a consolidated turnover of Rs 1,232.59 crore in FY 2024–25.
The proposed investment is primarily aimed at loan repayment and meeting other business requirements. The total cost of acquisition will not exceed GBP 30 million and will be made on a cash basis. Ashok Leyland currently holds a 93% stake in Optare Plc, which is expected to increase marginally to 93.28% following the allotment.
The transaction is expected to be completed by March 31, 2026. The company stated that Hinduja Automotive, part of the promoter group, holds a 6.52% stake in Optare Plc. The investment is being undertaken at arm’s length, based on a valuation report from an independent valuer.
Ashok Leyland is involved in the manufacture and sale of a broad range of commercial vehicles and also makes engines for industrial and marine applications, as well as forgings and castings.
The company’s consolidated net profit increased 6.8% YoY to Rs 813.49 crore in Q3 FY26 compared with Rs 761.92 crore in Q3 FY25. Net sales jumped 23.6% to Rs 14,761.95 crore in the quarter ended 31st December 2025.
The counter fell 2.34% to Rs 164.95 on the BSE.