Shareholders approve merger of Hinduja Global and Nxtdigital

26 Mar 2024 , 03:14 PM

According to Hinduja Global Solutions (HGS), 94.25% of its shareholders accepted the agreement between it and group company Nxtdigital on Friday.

The board of the HGS authorized the purchase of Nxtdigital’s media and digital operations in February 2022. A shareholder meeting of Hinduja Global was called by the National Company Law Tribunal (NCLT) on September 2 to discuss the transaction.

Nxtdigital reported that 99.99% of its non-promoter shareholders had voted in favor of the plan of arrangement between the business and Hinduja Global Solutions in a separate filing with the stock exchanges.

According to Nxtdigital, the shareholder meeting on Friday was conducted in accordance with the National Company Law Tribunal’s July 29 order.

The Hinduja Group announced a restructure of a few group entities earlier this year. In the initial phase of the restructuring, the group suggested combining Hinduja Global Solutions’ operations with those of Nxtdigital.

Broadband, digital cable television, content syndication, and teleshopping are among Nxtdigital’s business ventures. Hinduja Global operates in the BPO industry. Hinduja Leyland Finance (HLF), a division of Ashok Leyland, would be incorporated into Nxtdigital during the second phase of restructuring.

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