Ashok Leyland’s subsidiary -- Hinduja Tech (HT) has signed a definitive agreement for Creador to invest $50 million acquiring 19.6% shareholding in the company, which is subject to completion of customary closing conditions. Creador is a renowned private equity firm focused on partnering to grow world-class businesses in Southeast Asia and India. This investment places Hinduja Tech at a post-money equity value of $255 million.
The infusion of capital will allow Hinduja Tech to augment its existing capabilities in research and development through organic and inorganic means, enhance its global footprint and expand its state of the art labs to gain momentum in its journey towards emerging as a global leader in sustainable engineering mobility services. Hinduja Tech has been making significant strides in the mobility industry, by expanding its capabilities and partnerships to drive innovation and growth. The company has also collaborated with numerous players in mobility space, to support their development and production efforts across various segments, from traditional buses and sports cars to electric and autonomous vehicles.
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.
