L.C. Singh
| Photo Credit: Special Arrangement
Nihilent Ltd., a worldwide consulting and companies firm, has introduced a leveraged buyout of the controlling stake by its Founder & Promoter, LC Singh from NTT Ltd. for an unspecified quantity.
With the acquisition, Nihilent will turn into a management-owned entity. The 69.16% buyout was facilitated utilizing debt financing from a consortium of main funds, particularly 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 Ltd., the corporate stated in an announcement.
“The acquisition of the controlling stake aligns with Nihilent’s strategic vision and commitment to enhancing 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 corporate stated.
“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,” stated LC Singh, Executive Chairman, Nihilent in an announcement.
Started in 2000 by business veteran LC Singh, Nihilent is a worldwide consulting and companies firm that makes use of a human-centric strategy to problem-solving and alter administration. The firm has a presence in South Africa, India, USA, Sweden, UK and Australia.
