The NIIT Ltd Committee has approved the purchase of an additional Rs 19.5 lakh shares of NIIT Institute of Finance Banking and Insurance Training Ltd (IFBI), according to a filing of the exchange.
NIIT holds an 80.72% interest in IFBI and please post the above-mentioned acquisition. The proposal states that IFBI will become a fully owned subsidiary.
Shares are acquired from ICICI Bank Limited (1.9 million shares, 18.79% shares) and individual shareholders (50,000 shares, 0.49% shares).
The intensive consideration for the acquisition of shares from ICICI Bank is expected to be between Rs 4.7 crore and Rs 6.5 crore.
The acquisition is expected to close by September 30, 2025, according to its submission on Saturday.
“As a strategic business decision, NIIT Limited has agreed to acquire 1,900,000 shares of IFBI from ICICI Bank Limited and 50,000 shares of IFBI from individual shareholders.”
Incorporated in 2006 and headquartered in Gurgaon, IFBI reported revenue of 56.7 crores and net worth of 21.9 crores from 2023-24.
Released on April 20, 2025
