Hinduja Tech Limited (HT), a global engineering R&D services company with a focus on mobility and a subsidiary of Ashok Leyland, the flagship of the multibillion-dollar Hinduja Group conglomerate, has recently announced a definitive agreement with Creador. This agreement entails Creador’s investment of $50 million to acquire a 19.6% shareholding in HT, subject to customary closing conditions. Creador, a renowned private equity firm with a focus on fostering world-class businesses in Southeast Asia and India, sees this investment as a strategic move.
This investment places Hinduja Tech at a post-money equity value of $255 million. The infusion of capital will enable Hinduja Tech to enhance its research and development capabilities through both organic and inorganic means. It will also support the expansion of its global presence and the advancement of its state-of-the-art labs, furthering its journey towards becoming a global leader in sustainable engineering mobility services.
Hinduja Tech has been actively expanding its capabilities and partnerships in the mobility industry, collaborating with various players to support development and production efforts across segments ranging from traditional buses and sports cars to electric and autonomous vehicles.
Kumar Prabhas, CEO of Hinduja Tech Limited, expressed his satisfaction with the partnership with Creador, highlighting HT’s significant domain expertise gained over the last decade, particularly with global OEMs. He emphasized the company’s ambitious growth plans in the sustainable engineering mobility segment, and how Creador’s investment will accelerate these plans.
This investment reflects HT’s innovative spirit and proven track record in automotive and related industries, empowering the company to pursue new opportunities and further solidify its position as a global leader in sustainable mobility engineering.
Anish Kedia, Director at Creador, expressed enthusiasm about partnering with the Hinduja Group and the entire team at Hinduja Tech for the company’s next phase of growth. He praised HT’s status as a key player in the mobility ER&D industry, citing its deep capabilities in engineering, powertrain, and electronics. Kedia believes HT is well-positioned to create sustainable and profitable solutions for the future of mobility.
In the fiscal year 2023, Hinduja Tech made a significant acquisition by acquiring Drive System Design, a company based in the UK and US, known for its specialization in e-powertrain design. This strategic move, alongside other notable milestones, underscores Hinduja Tech’s steadfast commitment to remaining at the forefront of the swiftly evolving mobility sector. It reaffirms the company’s dedication to delivering innovative solutions to its clients, further solidifying its position as a leader in the industry.