NIIT Ltd board has permitted the acquisition of an extra 19.50 lakh fairness shares of NIIT Institute of Finance Banking and Insurance coverage Coaching Ltd (IFBI) to totally acquire the subsidiary, in accordance to an change submitting.
NIIT holds 80.72 per cent stake in IFBI, and put up the aforesaid acquisition, IFBI will grow to be its wholly owned subsidiary, the submitting acknowledged.
The shares might be acquired from ICICI Financial institution Restricted (1.9 million shares, 18.79 per cent stake) and particular person shareholders (50,000 shares, 0.49 per cent stake).
The mixture consideration for the acquisition of shares from ICICI Financial institution is predicted to be between Rs 4.7 crore and Rs 6.5 crore.
The acquisition is predicted to be accomplished by September 30, 2025, in accordance to the submitting on Saturday.
“As a strategic enterprise choice, NIIT Restricted has agreed to acquire 1,900,000 fairness shares of IFBI from ICICI Financial institution Restricted and 50,000 fairness shares of IFBI from Particular person shareholders,” the submitting learn.
IFBI, integrated in 2006 and headquartered in Gurgaon, reported a income of ₹56.7 crore and a web price of ₹21.9 crore for the fiscal yr 2023-24.
Revealed on April 20, 2025
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