Hinduja Eyes $200 Million in Potential Sale of Ashok Leyland’s OHM Mobility Arm.

Ashok Leyland Ltd. is exploring plans to raise about $200 million for its electric mobility services arm, according to people familiar with the matter.

The commercial vehicle manufacturer, part of the billionaire Hinduja family’s conglomerate, has hired an adviser to assess interest from prospective investors, including global private equity firms, the people said. They asked not to be identified because the discussions are private.

The potential funding round could value the unit, OHM Global Mobility Pvt., at between $800 million and $1 billion, the people said.

Discussions are still at an early stage, and the Hinduja family could opt not to proceed with the fundraising if investor appetite falls short of its valuation expectations, the people added.