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.”
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