Hinduja Leyland Finance to merge with NxtDigital
Intercorporate transactions continue with Hinduja Leyland Finance merging with NxtDigital – both of them are Hinduja Group companies.
Intercorporate transactions continue with Hinduja Leyland Finance merging with NxtDigital – both of them are Hinduja Group companies.
Hinduja Leyland Finance is an non-banking financial company (NBFC). It caters to the vehicle financing. Ashok Leyland is the promoter of the Hinduja Group, so Ashok Leyland has about 69 percent stake in it, the AUM is close to about Rs 29,000 crore.
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This vehicle financing NBFC will be merged into NDL, which used to be a media company but has transferred all their media assets to Hinduja Global Solutions. So it effectively became a shell company. Now with the merger with Hinduja Leyland Finance, NxtDigital will also become an NBFC which is what perhaps the street is excited about and the stock has gained in trade.
Watch the accompanying video of CNBC-TV18’s Reema Tendulkar for more details.
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