The mandatory open offer from Baring PE to the public shareholders of NIIT Technologies will open on Monday. The private equity (PE) fund is making an open offer to acquire 1.62 crore shares, representing 26 per cent stake in the Delhi-headquartered company at ₹1,394 a share.
The open offer was triggered after the acquirers had entered into an agreement with NIIT, promoter of NIIT Technologies, for 23.22 per cent stake-sale for over ₹2,600 crore. The open offer closes on July 26.