Founders to sell stake in Ennore Foundries-paper

Newswire

MUMBAI, Oct 26 (Reuters) - The founders of Ennore Foundries Ltd plan to sell up to 10 percent in the firm to fund expansion and pare their stake to levels permitted by the market regulator, The Economic Times daily reported on Friday. The company, part of the Hinduja group that owns India's second largest truck maker Ashok Leyland Ltd , is spending 3.5 billion rupees to more than double capacity to 230,000 tonnes a year. The founders hold 80 percent, the paper said, while the rules limit ...

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