Creador to pickup 19.6% stake in Hinduja Tech for $50 million

Hinduja Tech says the capital infusion to augment its existing capabilities in R&D 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.

Hinduja Tech
Image courtesy: Hinduja Tech

Hinduja Tech (HT), a mobility-focused global engineering R&D services company and a subsidiary of Ashok Leyland, the Indian flagship of the multi-billion dollar conglomerate the Hinduja Group has announced the signing of a definitive agreement for Creador to invest $50 million (Rs 416 crore) acquiring 19.6 percent shareholding in the company, which is subject to completion of customary closing conditions.

Creador is a private equity firm focused on partnering to grow world-class businesses in Southeast Asia and India. This investment places Hinduja Tech at a post-money equity value of $255 million (Rs 1,875 crore).

Hinduja Tech says the capital infusion to augment its existing capabilities in R&D 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.

It has also collaborated with numerous players in mobility space, to support their development and production efforts across various segments, from traditional buses and sports cars to electric and autonomous vehicles.

Kumar Prabhas, CEO, Hinduja Tech said, “HT has developed tremendous domain expertise over the last 10 years with a number of global OEMs as its customers. 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. The capital will empower us to pursue exciting new opportunities that will help further our position towards achieving our vision of being a global leader in the sustainable mobility engineering landscape.”

Anish kedia, Director, Credia said, “Creador is excited to partner with the Hinduja Group and the entire team at Hinduja Tech for its next phase of growth. HT has established itself as a key player in the mobility ER&D industry with marquee customers across the globe. 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.”

In FY2023, Hinduja Tech had acquired Drive System Design, a UK & US based company, specialising in e-powertrain design. 

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This article was first uploaded on March fourteen, twenty twenty-four, at twenty-three minutes past six in the evening.
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