NXTDigital (NDL) has received approval from its Board of Directors for merger of Hinduja Leyland Finance (HLFL), a Non-Banking Finance Company (NBFC) into NDL, subject to all statutory or regulatory approvals and approval of the shareholders.
The move is in line with NDL’s vision of pursuing high-growth opportunities; post the decision to transfer the digital, media and communications business undertaking of NDL to Hinduja Global Solutions. The merger will enable the shareholders of NDL to participate in and bolster the growth plans of HLFL thereby creating value for shareholders. Proposed merger will result in shareholders of HLFL receiving shares of NDL determined by an independent share swap valuation, subject to applicable regulatory approvals.
NXTDigital is the flagship media business of the global Hinduja Group. The company is India’s only integrated Digital Delivery Platform - delivering services via satellite, digital cable and broadband.
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