NXTDIGITAL board OKs transfer of media biz to Hinduja Global Solutions Ltd.

NXTDIGITAL jumped 13.42% to Rs 453.75 after the company said its board approved the sale of its media and communications business to Hinduja Global Solutions.

The board of NXTDIGITAL (NDL) at its meeting held on 17 February 2022, approved the proposed scheme of arrangement between NDL and Hinduja Global Solutions (HGSL) and their respective shareholders – for the demerger of the “digital, media & communication business” undertaking of NDL into HGSL on a going concern basis.

The proposed scheme is subject to shareholders, regulatory and National Company Law Tribunal (NCLT) which may take about six to eight months. This transaction is said to help NXTDigital in its further growth and expansion. BCS Bureau