NCLT approves merger of Hinduja Leyland Finance into NDL Ventures
ASHOKLEY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 pts more than its Agricultural Commercial & Construction Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Company Law Tribunal approved the merger of Hinduja Leyland Finance into NDL Ventures on November 3, 2026. Once completed, Hinduja Leyland Finance will be dissolved and NDL Ventures will become Ashok Leyland's major listed subsidiary. Ashok Leyland's stake will fall from 61.12% to 59.64%, with 25 NDL shares issued for every 10 Hinduja Leyland Finance shares.
Upon completion, Ashok Leyland will hold 59.64% of NDL. The merger may improve capital raising and efficiency, with a slight dilution in ownership.