Investcorp, a global investment firm, has announced the acquisition of NSEIT Ltd., the digital technology business of the National Stock Exchange Ltd., for Rs 1,000 crore. The acquisition excludes the digital examination business housed by NSEIT. It is part of Investcorp’s expansion plan in India as stated in a press release on Monday. Gaurav Sharma, head of India Investment Business at Investcorp, expressed that this acquisition is a significant step in the company’s efforts to expand in India and demonstrates their commitment to investing in high-growth sectors and supporting credible founders and management teams.
Avendus Capital served as the financial advisor to NSE and NSEIT, while Ernst & Young LLP provided financial and tax advisory services to Investcorp. Anagram Partners acted as the lead counsel for Investcorp in this transaction.
NSEIT is a leading digital transformation and cybersecurity services provider with a strong presence in India, North America, and the Middle East. It caters to global customers in capital markets, insurance, and banking sectors. NSEIT offers services in digital transformation, cybersecurity, cloud services, and digital examinations, although the latter was not included in the acquisition.
The acquisition of NSEIT aligns with Investcorp’s strategy to scale its investments in the technology and financial services sectors in India. This move further solidifies Investcorp’s position in the Indian market and contributes to its overall growth strategy. With $52 billion in assets under management, Investcorp has a global presence in 14 offices across the US, Europe, GCC, and Asia, employing around 500 people from 50 different nationalities.