Stock Surges 20% After CCI Approves Merger with Hinduja Leyland Finance

The share of NDL Ventures Ltd, a company that has transitioned from media and communication to investment, real estate, and financial services, has surged 20% to the upper circuit after the Competition Commission of India (CCI) approved the merger with Hinduja Leyland Finance. This regulatory nod has brought the company into the spotlight, especially given its market capitalization of Rs 390 crore.

With a market capitalization of Rs 390 crore, NDL Ventures Ltd’s shares hit a day high of Rs 117.60 per share, up by 20 percent from the previous day’s close price of Rs 98 per share. The stock trades at a substantially overvalued P/E ratio of 435x compared to the industry average of 31.4x.

India’s competition regulator has given its nod to the amalgamation of Hinduja Leyland Finance with NDL Ventures, removing a significant regulatory hurdle for the transaction. The clearance allows the group to proceed with integrating its lending subsidiary into the designated entity as part of a broader internal restructuring exercise.

With the approval in place, the consolidation is expected to simplify the corporate structure and align the group’s financial services operations under a unified platform. The move is aimed at enhancing operational efficiency, improving capital deployment, and strengthening the overall lending framework.

The amalgamation involves NDL Ventures Limited, a listed public company engaged in real estate and financial services with a FY25 net worth of Rs 60.05 crore, and Hinduja Leyland Finance Limited, an unlisted NBFC with a FY25 total income of Rs 4,473.33 crore and net worth of Rs 7,299.23 crore.

For every 10 fully paid equity shares of Rs 10 each held in HLFL, shareholders will receive 25 fully paid equity shares of Rs 10 each in NDL. In simpler terms, HLFL investors will be allotted 2.5 NDL shares for every one HLFL share held.

The merger is designed to provide a strong growth platform for the Transferee Company by accelerating its expansion in the NBFC sector. By combining operations, the merged entity will benefit from a larger net worth, improved financial strength, and greater flexibility in raising capital from both internal cash flows and external investors to fund future growth opportunities.

The merger will also streamline operations by eliminating duplicate administrative functions and reducing compliance costs. Integrated management control and better resource allocation are expected to improve efficiency, strengthen governance standards, and ensure optimal utilization of assets, ultimately supporting sustainable long-term value creation.

NDL Ventures Limited (formerly known as NXTDIGITAL LIMITED) is a public limited company incorporated under the provisions of the Companies Act, 1956, on July 18, 1995, in the State of Maharashtra. The company is engaged in the business of real estate and providing financial services.

NDL Ventures reported zero revenue for the December 2025 quarter, continuing its trend of having no operational business. The company posted a marginal net profit of Rs 0.23 crore, up 229 percent YoY, though this is largely meaningless given the negligible base. EBITDA remained negative at -0.95 crore, and EPS stood at Rs 0.07. At this stage, NDL essentially has no revenue-generating operations, making the upcoming merger with HLFL the key monitorable for investors.

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