NIIT Technologies informed that its board has approved the proposal to buyback 19.56 lakh shares of the company.
The scrip was currently trading 1% lower at Rs 1562.15. It had traded in the range of Rs 1559.90 and Rs 1573 so far during the day.
The IT firm, in an exchange filing made after market hours yesterday, said that the board of directors of NIIT Technologies at their meeting held on Monday, 23 December 2019, has approved buy-back of up to 19.56 lakh fully paid equity shares at a price of up to Rs 1,725 per share aggregating up to Rs 337.46 crore which represents 20.23% of the paid up equity share capital and free reserves of the company.
NIIT Technologies is a leading global IT solutions organization. The company sharply focus on key industries: banking and financial services, insurance, and travel, transportation and hospitality to build deep domain expertise.
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