Novezo Consulting Pvt. Ltd entered into a share purchase agreement to acquire HCL Infotech Ltd from HCL Infosystems Limited (BSE:500179) for an enterprise value of INR 1.5 billion on February 10, 2021. The consideration is subject to adjustments as on closing date. The consideration shall be by way of discharge of Optionally convertible debentures proposed to be issued by HCL Infotech and cash. Consideration of INR 93.7 million shall be paid in cash and balance by way of redemption of Optionally convertible debentures. The acquisition excludes UIDAI and Rajasthan power projects, Residual business assets and liabilities, which consist of completed HCLI SI Projects and other discontinued and closed projects of HCL Infotech Limited, HCL Investments Pte. and it's step down subsidiary, Nurture Technologies FZE. As of September 30, 2020. HCL Infotech generated a revenue of INR 148.03 million and net asset of INR 523.16 million. The transaction is subject to approval of the shareholders of the HCL Infosystems & statutory authorities and closure of certain conditions precedent. The Board of Directors of HCL Infosystems Limited approved the sale on February 10, 2021. The transaction is expected to close within five months of the date of execution of the share purchase agreement.

Novezo Consulting Pvt. Ltd cancelled the purchase agreement to acquire HCL Infotech Ltd from HCL Infosystems Limited (BSE:500179) on March 11, 2023.