Home / Business and Economy / Ashok Leyland Board Approves Major Merger Scheme
Ashok Leyland Board Approves Major Merger Scheme
27 Nov
Summary
- Ashok Leyland's board greenlit a merger of Hinduja Leyland Finance into NDL Ventures.
- The merger is subject to approvals from SEBI, NCLT, and stock exchanges.
- A share exchange ratio of 25 NDL Ventures shares for 10 Hinduja Leyland Finance shares is set.
Ashok Leyland's board of directors has officially sanctioned a scheme to merge Hinduja Leyland Finance Limited (HLFL) into NDL Ventures Limited. This pivotal decision awaits final approval from regulatory authorities, including the Securities and Exchange Board of India (SEBI) and the National Company Law Tribunal (NCLT), along with consent from shareholders and stock exchanges. The merger marks a significant step in the company's strategic restructuring efforts.
The proposed merger establishes a specific share exchange ratio: for every ten equity shares held in Hinduja Leyland Finance, shareholders will receive twenty-five fully paid-up equity shares in NDL Ventures. This ratio aims to ensure a fair valuation for all parties involved in the transaction. The appointed date for the merger by absorption is targeted for April 1, 2026, pending final regulatory clearances.
