Ashok Leyland subsidiary Hinduja Tech bags $50-million investment from Creador
By MYBRANDBOOK
Hinduja Tech Limited (HT), a subsidiary of Ashok Leyland has secured a $50 million investment from Creador, a PE firm focused on long-term investments in growth-oriented businesses in India and Southeast Asia.
HT has signed a definitive agreement for Creador to invest the amount by acquiring 19.6 per cent shareholding in the company. This investment places HT at a post-money equity value of $255 million, says a release. The infusion of capital will allow HT 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.
HT has been expanding its capabilities and partnerships in the mobility industry to drive innovation and growth. It has also collaborated with numerous players in the mobility space, to support their development and production efforts across various segments, from traditional buses and sports cars to electric and autonomous vehicles, says a release.
Kumar Prabhas, CEO of Hinduja Tech Limited, said, “We have an ambitious growth plan in the sustainable engineering mobility segment. We are very pleased to partner with Creador, their investment will allow Hinduja Tech to accelerate its Global growth plans.
“HT has established itself as a key player in the mobility ER&D industry with marquee customers across the globe” said Anish Kedia, Director at Creador. “With its deep capabilities across engineering, powertrain and electronics, we believe HT is well poised towards creating sustainable and profitable solutions for the future of mobility.”
Google promotes Sanjay Gupta as APAC President
Sanjay Gupta, who is the present Country Manager - India for Google has be...
Supreme Court verdicts against NEET Re-Examination
The Supreme Court declared that there will be no retest for the NEET-UG e...
Government brings in three employment-linked incentive program
The Finance Minister unveiled three new incentive programs in the Union ...
Amazon may soon launch new AI-powered Alexa
Amazon has been previewing an all-new Alexa which will be based on a new l...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...