Nxtdigital surges 17% as board approves merger of Hinduja Leyland Finance

The merger will enable the shareholders of NDL to participate in and bolster the growth plans of HLFL thereby creating value for shareholders, the company said.

Shares of Nxtdigital (NDL) surged 17 per cent to Rs 486.20 on the BSE in Thursday’s intra-day trade after its board accorded an in-principle approval for merger of Hinduja Leyland Finance (HLFL), into the company.

NDL is the media vertical of the global Hinduja Group. The media and communications company is India’s premier integrated Digital Delivery Platforms Company - delivering services via satellite, digital cable and broadband.

HLFL, a subsidiary of Ashok Leyland, is a non-banking finance company (NBFC) with assets under management (AUM) of over Rs 29,000 crore and a pan-India presence in 1,550 locations across 23