Hinduja Tech sells 20% stake to Creador for $50 million

Hinduja Tech Limited plans to raise about $100 million to meet expansions in the eMobility industry and hired investment bank Rothschild to run the process, ET reported in November.

Ashok Leyland owns a 74% stake in HTL. In 2021, Ashok Leyland bought back a 38% stake in HTL, held by Nissan International Holding BV, for Rs 70.20 crore.

HTL posted a total income of Rs 400 crore as of March 31, 2023, against Rs 260 crore in FY22. It posted a PAT of Rs20 crore in FY23 against Rs28 crore in FY22.

The infusion of capital will allow Hinduja Tech 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, it said.

“HTL 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," said Kumar Prabhas, CEO of Hinduja Tech Limited.

"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," said Anish Kedia, Director at Creador.

In FY 2023, Hinduja Tech acquired Drive System Design, a UK & US-based company, specializing in e-powertrain design.