These two Hinduja Group companies saw frenzied buying in today's session!
With this acquisition HGSL's share capital will rise from Rs 41.79 crore to Rs 52.48 crore
Hinduja Global Solutions (HGSL) announced that it has completed the acquisition of NXT Digital Ltd.’s (NDL) digital media business in India, with National Company Law Tribunal (NCLT) approval on November 11, 2022. With this acquisition, HGSL's share capital will rise from Rs 41.79 crore to Rs 52.48 crore, with NDL shareholders owning 20.4 per cent of HGSL’s shares.
Also, all NDL shareholders holding equity shares in the company as of November 23, 2022, will be allocated equity shares in HGSL at the rate of 20 equity shares of Rs 10 per share, paid in full in HGSL with 63 equity shares of Rs 10 per share paid fully in NDL. Most importantly as of the record date, all NDL shareholders will be eligible to participate in all corporate actions that HGSL may decide on, including dividends (interim and final), buybacks, and other post-record date actions.
Hinduja Global Solutions is a Hinduja Group subsidiary that specializes in the business of business process management (BPM). It offers voice and non-voice-based services such as contact center solutions and back-office transaction processing across the globe. NXT Digital is India’s premier digital television services provider which is based on the revolutionary Headend-in-the-Sky or HITS platform. The HITS platform also provides infrastructure-sharing services to Multi-System Operators (MSOs).
As of Monday, November 14, 2022, shares of Hinduja Global Solutions Ltd (HGSL) closed at Rs 1,296 with a gain of 3.39 per cent and shares of NXT Digital closed at Rs 418 with a gain of 4.60 per cent.