Hinduja Tech (HTL), the digital know-how arm of multi-billion conglomerate Hinduja Group, plans to promote a minority stake within the firm and is engaged in early talks with personal fairness funds, stated a number of individuals conscious of the event.
The corporate, a subsidiary of flagship firm Ashok Leyland, plans to lift about ‘830 crore (USD 100 million) at a valuation of USD 400 million (‘3,300 crore) to satisfy growth in e-mobility trade, stated sources.
Funding financial institution Rothschild is remitted to search out an investor. Ashok Leyland owns about 74% in HTL.
Targeted on the automotive trade, Hinduja Tech Digital Applied sciences Companies & Answer division provides complete end-to-end SAP Automotive Options, together with consulting, implementation, migration, customisation, and ongoing help and upkeep companies.
Its key purchasers embody Daimler, Renault, Ford, Toyota, Fiat, Nissan and Hyundai.
HTL has two supply centres in Chennai and Pune. HTL, which works with main automotive organisations (OEMs & Tier-X Suppliers) and disruptive mobility gamers, has wholly owned subsidiaries in Germany, USA, Shanghai, UK, Canada and Czech Republic and branches in France and Japan.
Buyback in 2021
In 2021, Ashok Leyland purchased again 38% in HTL, held by Nissan Worldwide Holding BV, for ‘70.2 crore. In 2014, Ashok Leyland had bought the minority stake to Nissan.
HTL posted a complete earnings of ‘400 crore as of March 31, 2023 in opposition to ‘260 crore in FY22. It posted a PAT of ’20 crore in FY23 in opposition to ’28 crore in FY22.
Final yr, HTL expanded its presence within the US market with the acquisition of Drive System Design (DSD), an engineering consultancy which supplies superior engineering to automotive, industrial automobile, off-highway, protection and aviation industries from places in the UK, america, and Asia.
Operations of HTL is spearheaded by CEO Kumar Prabhas, former COO and whole-time director on the board of L&T Know-how Companies. Prabhas, an IT veteran, has labored with Unisys, Sasken, Wipro and Multitech Software program.
When contacted, an HTL spokesperson declined to remark.
