NDL Ventures Board Approves Merger of Hinduja Leyland Finance: Check Entitlement Details

NDL Ventures Ltd has confirmed board approval for the merger through absorption of Hinduja Leyland Finance Ltd, a wholly-owned subsidiary of Ashok Leyland. This merger will mark NDL’s entry into the non-banking financial company (NBFC) sector. The entitlement ratio and other key information have now been released following a prior update in August 2025. 

Merger Entitlement and Record Date Details 

As per the approved scheme, shareholders of Hinduja Leyland Finance will be entitled to receive 25 equity shares of NDL Ventures for every 10 shares held as on the record date. This record date will be announced by the company at a later stage. The appointed date for the merger is set as April 1, 2026, or such other date approved by the National Company Law Tribunal (NCLT) or applicable authorities. 

Regulatory Approvals and Next Steps 

The merger is subject to several regulatory approvals, including consents from shareholders, the Securities and Exchange Board of India (SEBI), and the stock exchanges, in addition to the required sanctions from the NCLT. The companies will proceed with the regulatory filings and shareholder meetings in the coming months to progress the integration process. 

Read More: Bank Mergers in India (1993–2025): Major Consolidations + SBI’s Latest View! 

Strategic Rationale Behind the Merger 

Hinduja Leyland Finance, an NBFC, primarily provides financing solutions for commercial and personal vehicles such as tractors, utility vehicles, and cars. This business line will now become part of NDL Ventures, which recently amended its Memorandum of Association to operate in the financial services domain. NDL aims to leverage this merger to diversify its business and enhance shareholder value. 

NDL Ventures Share Price Performance  

As of November 26, 2025, at 9:17 AM, NDL Ventures share price on NSE was trading at ₹97.40 down by 1.67% from the previous closing price. 

Conclusion 

The merger between NDL Ventures and Hinduja Leyland Finance is a move aimed at expanding NDL’s footprint into the NBFC space. With the entitlement ratio now confirmed and necessary approvals underway, stakeholders await the announcement of the record date and further regulatory milestones. 

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