Ashok Leyland has received approval for merger of its subsidiary company -- Hinduja Leyland Finance with NXTDIGITAL. Proposed merger will provide scope of value unlocking for shareholders of the transferor company, integration of business operations, great efficiency in cash management, integrated operational and marketing strategies etc.
The share exchange ratio for the merger of the Hinduja Leyland Finance with and into NXTDIGITAL shall be 23 equity shares of the face value Rs 10 each of NXTDIGITAL shall be issued and allotted as fully paid up for every 10 equity shares of the face value of Rs 10 each fully paid up held in Hinduja Leyland Finance.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
