Baring Private Equity Asia to acquire 30% stake in NIIT Technologies from NIIT and other promoter entities

To make open offer to public shareholders for acquisition of additional 26% stake

NIIT Technologies announced on 06 April 2019 that funds affiliated with Baring Private Equity Asia (BPEA), have signed definitive agreements to purchase approximately 18.85 million NIIT Technologies shares (approximately 30% shareholding on a fully diluted basis in NIIT Technologies) from NIIT and other promoter entities at a price of Rs 1394 per share. The aggregate consideration for purchase of shares from promoter entities is estimated to be approximately Rs 2627 crores (US$ 381 million at INR / USD exchange rate of 69).

In accordance with the Securities and Exchange Board of India Regulations, BPEA will make an open offer to the public shareholders of NIIT Technologies to purchase up to 26% additional shareholding at a price of Rs 1394 per share. The aggregate consideration for purchase of shares from promoter entities and the open offer is estimated to be up to approximately Rs 4890 crores (US$ 709 million at INR / USD exchange rate of 69) based on ownership of approximately 56% stake.

This transaction is conditional upon customary conditions, including receipt of required regulatory approvals, including anti-trust and competition clearances from Competition Commission of India.

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