In a year marked by several announcements of companies listing on the B3 stock exchange going private, yet another company will leave the capital market as early as 2025. On the morning of Monday, December 22nd, the Hindiana Group announced the acquisition of Neogrid for R$ 150 million and a public offering to acquire shares (OPA).
Neogrid has been listed on the B3 stock exchange since December 16, 2020, when it conducted its initial public offering (IPO). In the primary offering, the company raised R$ 486.5 million. Founded in 1999, Neogrid is a software-as-a-service (SaaS), data, and technology company for the B2B environment.
“The timeline will follow all regulatory processes for conducting the auction to close the capital. For the company, its clients and suppliers, nothing changes, since we share the vision of excellence in service and value creation,” says Mauricio Nicoletto, partner and head of investments at Grupo Hindiana, to NeoFeed .
According to the businessman, the goal now is to enhance Neogrid's presence in the supply chain market as a competitive differentiator. "The strategy will always be to jointly deepen the value delivered in supply solutions for industries, distributors, and retailers," he adds.
Neogrid's analytical data network currently serves more than 37,000 industries, 5,000 distributors, and 230 large retail chains in Brazil and abroad. Among the surveys conducted by the company are the basic consumer basket, in partnership with the Getúlio Vargas Foundation (FGV), and the stockout rate in supermarkets.
Neogrid's controlling shareholders are Yafo Equity Investment Fund, Izmir Private Credit Multimarket Investment Fund, David Abuhab, and Isaac Abuhab. The acquisition offer was made by Dalpe Gestão e Participações, on behalf of the Hindiana Group.
Neogrid's founder, Miguel Abuhab, the company's current chairman of the board, will take on the role of executive chairman and will lead the company's innovation committee. The current CEO, Nicolás Simone, will remain in his position.
In addition to Neogrid, Abuhab also founded Datasul in 1978, one of the leading Enterprise Resource Planning (ERP) companies in Brazil, which was sold to Totvs in 2008 for R$ 700 million.
“This transaction with the Hindiana Group represents a potential growth lever for Neogrid. No company can afford to miss the window of opportunity to reinvent itself and further expand its relevance,” says Abuhab.
Neogrid's takeover bid joins a series of companies that will leave the B3 stock exchange in 2025. In November, the Spanish company Neoenergia filed its takeover bid request. In addition to this, ten other processes were completed in 2025 or are currently underway.
Among the companies that left the stock exchange are Reag Investimentos, Mobly, Wilson Sons, Zamp, Eletromidia, Fictor, and Santos Brasil. However, not all of them have had their shares delisted yet, as some still had shares in circulation.
The Hindiana Group's move comes at a time when there is a decline in the number of companies on the B3 stock exchange, which has not seen any IPOs in four years. In addition to closures, 103 companies have share buyback programs, including Vale, Itaú, BTG, and Magazine Luiza.
Among the reasons that explain the increase in takeover bids and share buyback programs is the unattractive valuation of some of these companies after long periods of low stock prices.
Following the announcement of the sale, Neogrid's shares opened trading on Monday, the 22nd, higher, registering a 5.96% increase around 12:15 pm on the B3. In the accumulated period of 2025, Neogrid's shares have risen by 29.2%.
The amount to be paid by the Hindiana Group for Neogrid's shares will be R$ 29 on the settlement date of the takeover bid. At the close of trading on Friday, December 19th, the shares were trading at R$ 26.35. The company is valued at R$ 254.1 million.
