Hulst BV acquires 1.23 lakh shares in NIIT Technologies

Hulst BV has acquired 1.23 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to 31.88 per cent, a regulatory filing said Wednesday.

NIIT Technologies said: "...Hulst BV has acquired 1,23,113 equity shares (with face value of INR 10 each) of NIIT Technologies Ltd, on May 21, 2019".

The shares, purchased from the open market, were bought at Rs 1,285.25 apiece.

With the latest transaction, Hulst now owns 31.88 per cent stake in NIIT Technologies.

In April, Baring Private Equity Asia (BPEA) had announced buying about 30 per cent stake in NIIT Tech from NIIT Ltd and other promoter entities at a price of Rs 1,394 per share putting the transaction at about Rs 2,627 crore.

The deal triggered an open offer, which is slated to commence from May 31. The total consideration for the open offer, at full acceptance, would be up to Rs 2,262.34 crore.

Hulst B V is an investment holding company registered in the Netherlands. It is a part of BPEA.