Stocks

NIIT Technologies shares fall 2.8 per cent

Reuters Mumbai | Updated on April 08, 2019 Published on April 08, 2019

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Shares of IT solutions company NIIT Technologies Limited fell as much as 2.8 per cent to Rs 1,310.2 on Monday. This is their biggest daily percentage loss since February 15.

The stocks fell a day after Baring Private Equity Asia (BPEA) decided to acquire 30 per cent stake in company from NIIT Limited and other promoter entities for aggregate consideration of about Rs 26.27 billion.

BPEA will make an open offer to the public shareholders of the company to purchase up to 26 per cent additional shareholding at a price of Rs 1,394 per share.

About 461,423 shares changed hands compared to the 30-day average of around 649,252 shares.

The stock closed at Rs 1,301.05, down Rs 48.45 (-3.59%) on the BSE.

 

Published on April 08, 2019
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