Intimation for Acquisition of New Consolidated Construction Company Limited ("NCCCL") by Nisus Finance Projects LLP, a subsidiary of Nisus Finance Services Co Limited.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nisus Finance Services, through its subsidiary Nisus Finance Projects LLP, has completed the acquisition of 67,97,196 equity shares (about 69%) in New Consolidated Construction Company Limited (NCCCL), making it a step-down subsidiary. NCCCL is a legacy civil construction firm founded in 1946 with 75+ years of track record and 300+ completed projects covering 200 million sq. ft. The target reported turnover of ₹60,819 lakhs in FY24-25 (provisional) and ₹57,097.68 lakhs in FY23-24. The deal is a cash transaction at a mutually agreed pre-money valuation (undisclosed for confidentiality). The LLP infused ₹70 crore as growth capital, and the acquisition is structured as a management-led buyout with the promoter (Mr. Amit Goenka) holding a 26% stake in the acquiring LLP. The acquisition sits outside Nisus Finance's core financial services business, with completion of remaining conditions expected by October 15, 2025.
This is a major strategic diversification move — Nisus Finance is entering the large civil construction sector via a sizeable platform (~₹600 Cr revenue), which could unlock new growth avenues but also introduces execution risk and a shift away from its core finance business. Shareholders should watch for further updates on integration, valuation details, and any potential open offer obligations tied to the 69% acquisition.