NIIT Limited — Board Meeting, 19-04-2025: Outcome of Board Meeting

NIIT Limited has announced a board meeting where the company approved the acquisition of shares from ICICI Bank Limited and individual shareholders to increase its stake in NIIT Institute of Finance Banking and Insurance Training Limited (IFBI) to 100%. The acquisition includes 1,900,000 equity shares from ICICI Bank, representing 18.79% of IFBI's issued share capital, and 50,000 equity shares from individual shareholders, amounting to 0.49%. This strategic move positions IFBI as a wholly owned subsidiary, enhancing NIIT's footprint in the BFSI training sector. The transaction is expected to be completed by September 30, 2025, with a cash consideration estimated between ₹4.7 cr to ₹6.58 cr.