The National Stock Exchange (NSE) has sold its digital examination business (DEX) to CL Educate for Rs 230 crore.
The move is part of the country’s top bourse’s plan to divest its non-core businesses. Both companies have signed a non-binding offer, and the amount will be paid in cash. An additional Rs 75 crore is also payable subject to the achievement of certain business milestones, CL Educate said in an exchange filing.
“The proposed acquisition excludes, and will be undertaken post completion of sale of, the technology business of NSE IT,” the filing further said.
NSEIT Limited is a wholly owned subsidiary of NSE Investments and a step-down subsidiary of NSE.
The DEX division of NSEIT is engaged in providing consultancy services and provides technological support for online examinations and digital learning.
During the financial year (FY) 2023-24, the turnover of the DEX business is close to Rs 200 crore.
First Published: Aug 30 2024 | 4:02 PM IST
