“The merger is subject to all applicable regulatory and shareholder approvals,” HLF said in a regulatory filing
“The merger is subject to all applicable regulatory and shareholder approvals,” HLF said in a regulatory filing
Nxtdigital Limited (NDL) shares rose 8% to close at £451 on the BSE on March 17 after announcing Hinduja Leasing Finance (HLF) Limited’s merger with it.
“The board of directors of HLF had previously approved the merger in principle. The proposed merger will result in HLF shareholders receive NDL shares in accordance with equity exchange rating. The merger is subject to all applicable regulatory and shareholder approvals,” HLF said in a regulatory filing.
HLF is a bank-free financial society of Ashok Leyland, while NDL is the vertical media industry of the Hinduja Group. NDL shares are listed on the BSE and the NSE.
“Our company has been evaluating various options to raise capital for its primary capital needs in line with its growth plans. Consistent with this goal, the proposed merger is expected to create value for our company and its shareholders, and also advance our growth plans,” said HLF.
