Hinduja Is Said to Seek $200 Million for Ashok Leyland’s OHM Mobility Unit

Ashok Leyland Ltd. is considering raising about $200 million for its electric mobility services unit, according to people familiar with the matter.

The commercial vehicle maker, part of the billionaire Hinduja family’s namesake conglomerate, is working with an adviser to gauge interest from potential investors, including global private equity firms, the people said, asking to not be identified because the information isn’t public. A funding round might value OHM Global Mobility Pvt at $800 million to $1 billion, they said.