NIIT Limited (BSE:500304) signed a letter of intent to acquire an additional 18.79% stake in NIIT Institute of Finance, Banking & Insurance Training Ltd. from ICICI Bank Limited (NSEI:ICICIBANK) on April 19, 2025. NIIT Limited (BSE:500304) signed a share purchase agreement to acquire an additional 18.79% stake in NIIT Institute of Finance, Banking & Insurance Training Ltd. from ICICI Bank Limited (NSEI:ICICIBANK) for INR 61.1 million on June 11, 2025. In a related transaction, NIIT Limited is acquiring 0.49% stake in NIIT Institute of Finance, Banking & Insurance Training Ltd. from individual shareholders. Upon completion of the transactions, NIIT Limited will own 100% stake in NIIT Institute of Finance, Banking & Insurance Training Ltd. A combined cash consideration of INR 65.8 million will be paid by NIIT Limited.

The transaction is subject to approval of merger agreement by the board of ICICI Bank Limited and approval of offer by the board of NIIT Limited. The deal has been approved by both boards. The expected completion of the transaction is on or before September 30, 2025.

NIIT Limited (BSE:500304) completed the acquisition of an additional 18.79% stake in NIIT Institute of Finance, Banking & Insurance Training Ltd. from ICICI Bank Limited (NSEI:ICICIBANK) for INR 61.1 million on June 11, 2025.