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NXTDigital’s board gives nod for acquisition of digital business by HGS
Jan-15-2022

NXTDigital’s (NDL) board has approved the acquisition of its Digital (Media, Communication & Broadband) business including HITS platform & licenses by Hinduja Global Solutions (HGS), a related party. The proposed acquisition of NDL’s business will result in shareholders of NDL receiving shares of HGS as per share swap valuation and shall be subject to all applicable regulatory approvals. The company shall appoint necessary intermediaries and an independent valuer to carry out the valuation exercise and submit the report including share exchange ratio at the earliest.

The company is considering the expansion plans into various diversified business opportunities in multiple value-additive sectors and acquisition of the Digital business by HGS is likely to reinforce the company's diversification agenda. Post this proposed acquisition of digital business by HGS transaction, various opportunities will be reviewed to complement balance existing business of NDL and decision will be taken in this regard at appropriate time.

NXTDigital is the flagship media business of the global Hinduja Group. The company is India’s only integrated Digital Delivery Platform - delivering services via satellite, digital cable and broadband.

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