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Hinduja Leyland Finance’s CCI Merger Approval Sends NDL Ventures Shares to 20% Upper Circuit on Strong Buy-Side Interest
Hinduja Leyland Finance’s CCI Merger Approval Sends NDL Ventures Shares to 20% Upper Circuit on Strong Buy-Side Interest
Strong stock reaction: NDL Ventures Ltd shares climbed sharply, hitting the 20 % upper circuit limit on the BSE in early trade, reaching about ₹117.6 per share. This outpaced the generally flat performance of the BSE Sensex.
Regulatory trigger: The surge followed a Competition Commission of India (CCI) press release stating that it has approved the merger of Hinduja Leyland Finance with and into NDL Ventures.
Prior approvals: The merger had earlier received a no-objection certificate from the Reserve Bank of India (RBI) in August 2025 and was subsequently approved by the NDL Ventures board in November 2025.
Board decision: In its board meeting, taking into account recommendations from the audit committee and independent directors, the company unanimously approved the merger scheme by which Hinduja Leyland Finance would be absorbed into NDL Ventures.
Share swap terms: Under the scheme, 25 fully paid equity shares of NDL Ventures (face value ₹10) will be issued for every 10 fully paid shares of Hinduja Leyland Finance, to be allotted to eligible HLF shareholders on a future record date.
About NDL Ventures: The company operates in real estate and financial services and has undergone multiple name changes since its incorporation in 1985, most recently becoming NDL Ventures after the demerger of its digital and media businesses.
About Hinduja Leyland Finance: HLF is an NBFC-Asset Finance Company focused on providing small-ticket loans to urban and semi-urban customers, including vehicle financing and loans against property and home loans.
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