Hinduja Global Solutions Limited (BSE:532859) agreed to acquire Digital Business of Nxtdigital Limited (BSE:500189) on January 14, 2022. Under the terms, each shareholder of NXTDIGITAL holding 63 equity shares will receive 20 shares (post bonus) of Hinduja Global. Accordingly, the shareholders of Nxtdigital will receive 10.69 million shares of HGS as per swap valuation. The transaction is subject to to shareholder approvals of Hinduja Global and Nxtdigital, all applicable regulatory approvals, including NCLT and other requisite approvals. The transaction is approved by the Board of Directors of Nxtdigital. KPMG Valuation Services LLP and SSPA & Co., Chartered Accountants acted as valuers in the transaction. As of July 29, 2022, the equity shareholders meeting of NXTDigital is convened on September 2, 2022. As of September 2, 2022, NXTDigital shareholders approved the transaction in Extra Ordinary General Meeting. As of November 11, 2022, NCLT approved the transaction. As of November 12, 2022, Nxtdigital Limited's board set November 23, 2022 as the record date. As of December 21, 2022. he Board of Directors considered it expedient and necessary that with the demerger of digital and media undertaking business together with the trademark NxtDigital, the name of the company should be changed from Nxtdigital Limited to NDL Ventures Limited or such other name as approved by the Registrar of Companies/Ministry of Corporate Affairs.
Hinduja Global Solutions Limited (BSE:532859) completed the acquisition of Digital Business of Nxtdigital Limited (BSE:500189) on November 12, 2022.