Shares of Ashok Leyland, the parent company of Hinduja Tech, were settled at Rs 164, in the previous trading session on Thursday, rising 2.72 per cent. 
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Shares of Ashok Leyland, the parent company of Hinduja Tech, were settled at Rs 164, in the previous trading session on Thursday, rising 2.72 per cent. Shares of Ashok Leyland Ltd will be in focus on Friday after Hinduja Group sold 19.6 per cent stake in its subsidiary Hinduja Tech to Creador. The flagship company of the Hinduja Group informed about the same through an exchange filing after the market hours on Thursday.
Hinduja Tech, a mobility-focused global engineering R&D services company, announced the signing of a definitive agreement for Creador to invest $50 million acquiring 19.6 per cent shareholding in the company, which is subject to completion of customary closing conditions, said the company in an exchange filing. Shares of Ashok Leyland, the parent company of Hinduja Tech, were settled at Rs 164, in the previous trading session on Thursday, rising 2.72 per cent in the previous trading session. The commercial vehicle player commanded a total market capitalization of more than Rs 48,000 crore. "Creador is a renowned private equity firm focused on partnering to grow world-class businesses in Southeast Asia and India. This investment places Hinduja Tech at a post-money equity value of $255 million," it added. In FY 2023, Hinduja Tech had acquired Drive System Design, a UK & US based company, specializing in e-powertrain design.
The infusion of capital will allow Hinduja Tech to augment its existing capabilities in research and development through organic and inorganic means, enhance its global footprint and expand its state of the art labs to gain momentum in its journey towards emerging as a global leader in sustainable engineering mobility services.
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