Nxtdigital surges on getting NCLT`s sanction to scheme of arrangement with HGS
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Nxtdigital is currently trading at Rs. 411.80, up by 11.55 points or 2.89% from its previous closing of Rs. 400.25 on the BSE.
The scrip opened at Rs. 414.00 and has touched a high and low of Rs. 418.35 and Rs. 408.50 respectively. So far 1843 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 526.00 on 24-Aug-2022 and a 52 week low of Rs. 320.00 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 418.35 and Rs. 375.00 respectively. The current market cap of the company is Rs. 1391.48 crore.
The promoters holding in the company stood at 64.67%, while Institutions and Non-Institutions held 6.58% and 28.75% respectively.
Nxtdigital (NDL) has received the final sanction and approval from the National Company Law Tribunal (NCLT) on November 11, 2022, to the Scheme of Arrangement between NDL and Hinduja Global Solutions (HGS).
Pursuant to the Scheme, the Media & Communication Business undertaking including the assets and liabilities together with the subsidiaries stands transferred to HGS. The new NDL (after giving effect to the Scheme) shall focus on the next phase of reorganization of NDL, gearing up with necessary regulatory and other preparatory actions.
All shareholders of NDL holding Equity Shares in the Company as of close of business on November 23, 2022 will be allotted Equity shares in HGS in the ratio of 20 Equity Shares of Rs 10 each fully paid up in HGS for every 63 Equity shares of Rs 10 each full paid up held of NDL.
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.
