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Saturday, Aug 14, 2004

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NIIT to start trading on BSE, NSE from Aug 16

Our Bureau

New Delhi , Aug. 13

SHARES of IT training company NIIT Ltd would start trading on the Bombay Stock Exchange and National Stock Exchange from August 16.

"NIIT shares had gone off the trading list of stock exchanges in the second week of July to facilitate credit of new shares of NIIT and NIIT Technologies Ltd. This follows the spin-off of NIIT's global software solutions business into NIIT Technologies Ltd," a company statement said here.

The capital has been structured in a manner that in lieu of 100 shares of Rs 10 each held by the shareholders of NIIT Ltd, they receive 50 shares of the demerged NIIT Ltd and 75 shares of NIIT Technologies Ltd, both of the face value of Rs 10 each.

"The process of listing of NIIT Technologies Ltd shares is likely to be completed in the next few weeks.

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