NIIT to Fully Acquire Subsidiary IFBI in Strategic Move

NIIT Ltd's board approved acquiring an additional 19.50 lakh equity shares of its subsidiary, IFBI, to make it a wholly owned unit. Shares will be purchased from ICICI Bank and individual shareholders for Rs 4.7-6.5 crore, finalizing by September 2025. IFBI recorded revenue of Rs 56.7 crore in 2023-24.

In a significant strategic decision, NIIT Ltd's board has given the green light for acquiring an additional 19.50 lakh equity shares of NIIT Institute of Finance Banking and Insurance Training Ltd (IFBI). This move will transition IFBI into a wholly owned subsidiary, as highlighted in an exchange filing.

The acquisition includes shares from ICICI Bank Limited, holding 1.9 million shares which account for an 18.79 per cent stake, and an additional 50,000 shares from individual shareholders, representing a 0.49 per cent stake.

The total acquisition cost is anticipated to fall between Rs 4.7 crore and Rs 6.5 crore. Completion of this acquisition is expected by September 30, 2025. IFBI, based in Gurgaon and founded in 2006, reported a fiscal revenue of Rs 56.7 crore and a net worth of Rs 21.9 crore for 2023-24.

(With inputs from agencies.)