Nihilent Limited which is an international consulting and services company, announced a leveraged acquisition of the controlling stake by its Founder & Promoter, LC Singh from NTT Ltd.
Nihilent will become a management-owned entity with this buyout. The 69.16% of share was facilitated using debt financing in association with leading funds, namely ICICI Prudential Corporate Credit Opportunities Fund AIF-I of ICICI Prudential Alternate Investments and Piramal Structured Credit Opportunities Fund, the Performing Credit fund managed by Piramal Alternatives Private Limited.
Earlier in 2022,same deal was on hold as NTT was seeking a valuation for Nihilent at around 2500 Crore but it was ought to happen as this acquisition aligns with Nihilent’s strategic vision and commitment to spreading its market presence, taking its IPs & products to market, strategic expansion of its current capabilities, and ramping up its offering in AI, ML, XR & Generative AI.
The leftover stake continues to be occupied by promoter’s family, Nihilent’s top management executives and employees.Roughly around 6.5% of the stake is available for its employees in the form of employee stock ownership plans (ESOPs).The company estimates a compounded growth of around 25% in the forthcoming years.
Nihilent Ltd. which is a global consulting and services company that uses a human-centred approach to problem-solving and change management,was established in 2000.The company already has its presence in markets of some countries namely South Africa, India, USA, Sweden, UK and Australia.
“We are excited to announce the successful buyout of the controlling stake from NTT Ltd. This strategic move allows Nihilent to regain full control and autonomy over its operations, enabling us to implement our vision and business strategies more effectively. We extend our gratitude to NTT Ltd. for their support and collaboration over the years. Their contributions have been instrumental in our success, and we look forward to building on the foundation they helped us establish,” said LC Singh, Executive Chairman, Nihilent Ltd.