Stocks

NIIT shares to turn ex-date for buyback

| Updated on October 15, 2019 Published on October 15, 2019

Shares of NIIT will turn ex-date on Thursday for the proposed buyback. It had approved a proposal to buy back 2.68 crore shares, or 16 per cent of its equity, at ₹125 a share for ₹335 crore through the tender route.

NIIT had divested its entire stake in NIIT Technologies to Baring Private Equity Asia Ltd’s arm Hulst BV in April and received ₹2,020 crore from the stake sale. Investors must own the company’s shares by Wednesday to become eligible to participate in the buyback offer.

Published on October 15, 2019
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