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NIIT enters into SPA with NSDC to pick 10% stake in NYJL

13 Dec 2016

NIIT has entered into a Share Purchase Agreement (SPA) on December 12, 2016, with National Skill Development Corporation (NSDC), in terms of which company has agreed to acquire 23,13,240 equity shares of NIIT Yuva Jyoti (NYJL) having face value of Rs 10 each constituting 10% of the aggregate issued and paid-up share capital of NYJL from NSDC for an aggregate cash consideration of Rs 2.85 crore.

Before acquisition, the company was holding 90% of the aggregate issued and paid up share capital of NYJL. Post acquisition, the company will hold 100% stake of the aggregate issued and paid up share capital of NYJL and accordingly NYJL will become wholly owned subsidiary of the company.

NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements.

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