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 non-core businesses.
The duo has signed a non-binding offer and the amount will be paid in cash.
An additional Rs 75 crore is also payable subject to 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.
NSE IT Limited is a wholly-owned subsidiary of NSE Investments, and a step-down subsidiary of NSE. The DEX division of NSE IT is engaged in providing consultancy services and gives technological support for online examinations and digital learning.
During the financial year 2023-24, the turnover of the DEX business was close to Rs 200 crore.
First Published: Aug 30 2024 | 4:02 PM IST
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