NIIT surges 14%, NIIT Technologies down 3% after Baring PE deal

NIIT shares surged 14 per cent to Rs 104 on the BSE in early morning trade after a funds affiliated with Baring Private Equity Asia (BPEA) said that it will buy the company's and promoter entities' 30 per cent stake in NIIT Technologies for about Rs 2,627 crore.

NIIT Technologies was hived off from corporate and vocational training firm NIIT in 2004. NIIT holds about 23.1 per cent in NIIT Tech, while promoters Rajendra Pawar and Vijay Thadani with their families hold 6.94 per cent shares.

“NIIT Technologies on Saturday announced that fund affiliated with Baring Private Equity (Asia), have