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Hulst BV buys 160,000 shares of NIIT Technologies, boosts stake to 32.38%

The shares were bought at Rs 1,267.23 apiece on the 24th of May 2019

Press Trust of India  |  New Delhi 


has acquired additional 1.6 lakh shares of from the open market, taking its shareholding in the mid-sized Indian IT firm to 32.38 per cent, a regulatory filing said Sunday.

"has acquired 1,60,000 equity shares (with face value of Rs 10 each) of Ltd, on May 24, 2019," said in an NSE filing.

The shares were bought at Rs 1,267.23 apiece.

With the latest transaction, now owns 32.38 per cent stake in NIIT Technologies.

In April, (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 value 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 BV, an investment holding company registered in the Netherlands, is a part of BPEA.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, May 26 2019. 15:35 IST