Two individual promoters Rajendra S. Pawar and Vijay K Thadani of NIIT Technologies Ltd, on Thursday have sold around 44.36 lakh shares of the company, representing about 7.4 per cent of equity.
The total value of these shares stands at around Rs 120 crore.
However, both the promoters continue to own over 31 per cent shareholding of the company.
“The proceeds of this sale will be used to fund the expansion plans of NIIT University (NU),” Chairman, Rajendra S. Pawar, NIIT Technologies said.
Shares of NIIT closed at Rs 282.50 on the BSE, down by 5.15 per cent from the previous close.