ICICI Bank picks up a stake in NIIT
MyIRIS: NIIT has announced that ICICI Bank (Nyse: IBN) has agreed to subscribe to the share capital of NIIT Institute of Finance Banking and Insurance Training to the extent of Rs 9.50 million, being 19% of the paid-up capital.
This company is specially formed for providing training in finance, banking and insurance.
With this deal ICICI has made a strategic investment in a company which serves ICICI a dual purpose of investment for gains in future and will also fulfill its requirements of skilled employees. NIIT is a leader in India in terms of private computer training from basic to advance software training and it’s courses are recognized by industry leaders like Microsoft and Infosys. This new company will focus in areas of technology based learning services and proficiency assessment and recruitment testing services. With demand for skilled manpower growing day by day this company has a good future as companies now days generally outsource their recruitment work and are more comfortable in hiring a trained employee then a trainee.