Leading Skills and Talent Development Corporation to Acquire 19.28 Per Cent Stake In Subsidiary Across 2 Deals, Taking Total Holding To 100 Per Cent
The company posted a net profit of Rs 14 crore in Q3 FY25 compared to a net profit of Rs 15 crore.
NIIT Limited has announced its decision to acquire further equity shares in its subsidiary, NIIT Institute of Finance Banking and Insurance Training Limited (IFBI). The announcement, made on April 19, 2025, details that NIIT Limited will purchase 1,900,000 equity shares of IFBI from ICICI Bank Limited. This acquisition will constitute 18.79 per cent of IFBI's total issued and paid-up share capital. Additionally, NIIT Limited will acquire 50,000 equity shares of IFBI from individual shareholders, representing 0.49 per cent of the issued and paid-up capital.
Prior to this acquisition, NIIT Limited held 80.72 per cent of IFBI's issued and paid-up share capital. Following the completion of these transactions, IFBI will become a wholly-owned subsidiary of NIIT Limited. The aggregate consideration for the acquisition of shares from ICICI Bank is expected to be in the range of Rs 4.7 crore to Rs 6.58 crore. IFBI, incorporated in 2006, focuses on training and developing professionals for the Banking, Financial Services, and Insurance (BFSI) sector in India. The revenue for IFBI for the financial year 2024 was Rs 56.7 crore, and its net worth as of March 31, 2024, was Rs 21.9 crore. The turnover of IFBI for the financial year 2023 was Rs 18.4 crore, and for the financial year 2022, it was Rs 15.2 crore. No governmental or regulatory approvals are required for this acquisition, and the expected completion date is on or before September 30, 2025.
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NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company was established in 1981 to help the nascent IT industry overcome its human resource challenges. NIIT Ltd offers a range of learning and talent development programs to individual and corporate learners in futuristic domains through its various businesses including NIIT Digital, StackRoute, RPS Consulting, Institute of Finance Banking & Insurance (IFBI), TPaaS and Sales & Service Excellence (SSE).
According to the company's annual performance, it reported revenue of Rs 303 crore compared to Rs 341 crore. The company’s operating profit stands at Rs 1 crore. The company’s net profit stands at Rs 40 crore compared to a profit of Rs 8 crore.
As per Quarterly Results in Q3 FY25, the company reported a quarterly revenue from operations of Rs 98 crore compared to a revenue of Rs 85 crore, representing a growth of 15.29 per cent on a YoY basis. The company posted a net profit of Rs 14 crore in Q3 FY25 compared to a net profit of Rs 15 crore.
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Disclaimer: The article is for informational purposes only and not investment advice.