NIIT has approved a proposal to purchase an additional 1,900,000 equity shares NIIT Institute of Finance Banking and Insurance Training (IFBI), a subsidiary of the Company, constituting 18.79% of the aggregate issued and paid-up share capital from ICICI Bank; and 50,000 equity shares of IFBI constituting 0.49% of the aggregate issued and paid-up share capital from Individual shareholders.
The company is already holding 80.72% of the aggregate issued and paid-up share capital of the IFBI and post aforesaid acquisition, IFBI will become a wholly owned subsidiary of the company. The acquisition is expected to be completed on or before September 30, 2025.
NIIT is a leading skills & talent development corporation, the company offers training and development solutions to Individuals, Enterprises and Institutions.
