Nxtdigital Limited (BSE:500189) agreed to acquire Hinduja Leyland Finance Limited from Ashok Leyland Limited (NSEI:ASHOKLEY) for INR 89.8 billion on August 16, 2022. The Board of Directors of NXTDIGITAL Limited at its meeting today, approved the proposed Scheme of Arrangement between NXTDIGITAL Limited (NDL) and Hinduja Leyland Finance Limited (HLFL) and their respective Shareholders - for merger of HLFL with the Company. The Board also approved the share exchange ratio for the proposed merger.

As per the valuation, the shareholders of HLFL will get 25 fully paid equity shares of face value of INR 10 per share in NDL for every 10 fully paid equity shares of face value of INR 10 each held by them in HLFL. The proposed Scheme is subject to all shareholder and regulatory approvals and the approval of the National Company Law Tribunal (NCLT).