NIIT wraps up demerger of corporate learning business into NLSL
NIIT Ltd, a global skills and talent development company based in India, said that it has successfully completed the demerger of its corporate learning business into NIIT Learning Systems Ltd (NLSL).
In January 2022, following the reorganization plan announced during the Q3 FY22 results, NIIT Limited’s board declared the transfer of the corporate learning business undertaking to NIIT Learning Systems Limited (NLSL). This transfer took place through the effective implementation of the composite scheme of arrangement on 24 May 2023.
Rajendra Singh Pawar — NIIT Group Chairman and Co-Founder said: “We are excited about the profound impact we aim to make in the realm of global talent development.”
Moving forward, NIIT Limited will concentrate on operating the Skills & Careers business, while NLSL will handle the Corporate Learning Business.
NIIT wraps up demerger of corporate learning business into NIIT Learning Systems. Photo courtesy of Puneet.1.verma/Wikimedia Commons.
As a result of the demerger, each shareholder of NIIT Limited will receive one share of NLSL for every share of NIIT Limited held by them on the Record Date, set as 8 June 2023. Subsequently, NLSL will pursue listing on the BSE/NSE after obtaining the necessary regulatory approvals.
This demerger acknowledges the distinct market dynamics, customer segments, product offerings, and growth paths of each business. It enables a sharper focus, simplified decision-making, targeted allocation of growth capital, and increased agility, leading to significant value creation for stakeholders in both businesses.
NIIT Learning Systems specializes in offering managed training services to Fortune 1000 corporations across North America and Europe. The company serves over 80 global customers in more than 30 countries.
With a dedicated team of over 2,400 world-class learning professionals, NIIT Learning Systems has earned more than 400 industry awards and ranks among the top five learning outsourcing companies worldwide, said NIIT.
Sapnesh Lalla has been appointed as the CEO and Executive Director of NIIT Learning Systems by its board. His primary focus will be on accelerating the company’s growth and delivering enhanced value to its customers.
Sapnesh Lalla said: “The demerger empowers the newly created NIIT Learning Systems Ltd. to sharply focus its management team and capital on the significant opportunities emerging in the Learning Outsourcing space and achieve global market leadership.”