India’s National Stock Exchange digital division (NSEIT) acquired by Investcorp
In a $120 million deal, Bahrain’s Investcorp, the largest alternative asset manager in the Middle East, will purchase the National Stock Exchange (NSE) of India’s digital technology services division.
The alternative investment firm stated in a statement that the deal does not include NSEIT’s digital examination business, which provides online tests for hiring and promotion as well as digital upskilling services for corporates.
The digital technology division of the biggest stock market operator in India, NSEIT, offers sophisticated cybersecurity and digital transformation services to banks, insurance providers, and capital markets in the Middle East, North America, and India.
According to Investcorp, the acquisition of NSEIT is a continuation of its history of making investments in global technology and IT services firms.
“We are pleased to announce our acquisition of NSEIT. It is a significant step in our expansion efforts in India and it underscores our commitment to investing in high-growth sectors and backing credible founders and management teams,” said Gaurav Sharma, head of India Investment Business at Investcorp.
Investcorp, which manages more than $52 billion in assets, has made investments in a number of Indian businesses, such as the mattress manufacturer Wakefit, the travel luggage manufacturer Safari Industries, and the financial services provider InCred.
The first perpetual warehousing and industrial park infrastructure investment trust to be listed on the NSE was NDR Infrastructure Investment Trust, which was listed by the firm’s portfolio company, NDR Warehousing Private, in March.
It has made investments in the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors and is also involved in India’s mid-market private equity market.
In the meantime, China Investment Corporation, Beijing’s wealth fund, is supporting Investcorp as it establishes a $1 billion investment vehicle to invest in businesses in China and the GCC.
The Golden Horizon Fund is a fund that will make investments in companies in the consumer, healthcare, and logistics industries.
