Nihilent promoter LC Singh buys out controlling stake from NTT

Nihilent Ltd., a global consulting and services company, has announced a leveraged buyout of the controlling stake by its Founder & Promoter, LC Singh from NTT Ltd. for an unspecified amount.

Nihilent Ltd., a global consulting and services company, has announced a leveraged buyout of the controlling stake by its Founder & Promoter, LC Singh from NTT Ltd. for an unspecified amount.

With the acquisition, Nihilent will become a management-owned entity. The 69.16% buyout was facilitated using debt financing from a consortium of leading funds, namely 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 company said in a statement. 

“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 company said.

“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,” said LC Singh, Executive Chairman, Nihilent in a statement.

Started in 2000 by industry veteran LC Singh, Nihilent is a global consulting and services company that uses a human-centric approach to problem-solving and change management. The company has a presence in South Africa, India, USA, Sweden, UK and Australia.