ABSTRACT
Rohan Bakshi, Fixed Income Analyst at Axiom Asset Management Company, saw a news alert on his monitor on the morning of May 14, 2020. Ashok Leyland Ltd (ALL), a leading commercial vehicles manufacturer in India, was planning to issue up to Rs 300 crore of three-year secured non-convertible debentures on a private placement basis, with a green-shoe option of another Rs 200 crore. 1
