Live Markets »News & Advice»Market News»Market News Details
Market News Details

Open offer for NIIT Tech to begin from May 31 after acquisition by BPEA

Press Trust of India/New Delhi 12 Apr 19 | 08:35 PM

NIIT Technologies said Friday that open offer, following the acquisition of stake by Baring Private Equity Asia, is expected to commence from May 31.

Earlier this month, funds affiliated with Baring Private Equity Asia (BPEA) bought about 30 per cent stake in mid-sized information technology services firm NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore.

Related Stories

    No Related Stories Found
Widgets Magazine

The deal triggered an open offer under which BPEA is slated to make an offer to the public shareholders of NIIT Technologies for purchasing up to 26 per cent additional shareholding -- taking the total deal value to up to Rs 4,890 crore.

ALSO READ: NIIT Tech to buy WHISHWORKS; sell 89% stake in Esri India for Rs 90 crore

In a regulatory filing, NIIT Technologies told the BSE that the open offer will tentatively begin May 31 and close on June 14.

The filing noted that the last date for filing of the draft letter of offer (DLoF) with the Securities and Exchange Board of India (Sebi) is April 23.

NIIT Technologies said the open offer for up to 1.62 crore fully paid-up equity shares (representing 26 per cent stake) will be made by Hulst BV along with The Baring Asia Private Equity Fund VII LP, The Baring Asia Private Equity Fund VII LP1 and The Baring Asia Private Equity Fund VII SCSp.

The transaction is conditional upon customary conditions, including receipt of required regulatory approvals, including anti-trust and competition clearances from the Competition Commission of India.

Widgets Magazine


Company Price Gain (%)
Yes Bank91.159.49
Asian Paints1,403.352.58
Reliance Inds.1,280.502.52
Maruti Suzuki5,912.002.48


Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine