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Baring Private Equity Asia to acquire 30% stake in NIIT Technologies

08 Apr 2019 Evaluate

Baring Private Equity Asia (BPEA) has signed definitive agreements with NIIT Technologies to purchase approximately 18.85 million NIIT Technologies shares (approximately 30% shareholding on a fully diluted basis in NIIT Technologies) from NIIT and other promoter entities at a price of Rs 1,394 per share. The aggregate consideration for purchase of shares from promoter entities is estimated to be approximately Rs 2627 crore. 

BPEA will make an open offer to the public shareholders of NIIT Technologies to purchase up to 26% additional shareholding at a price of Rs 1394 per share. The aggregate consideration for purchase of shares from promoter entities and the open offer is estimated to be up to approximately Rs 4890 crore based on ownership of approximately 56% stake.

NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia, and Australia. NIIT Technologies services clients in travel and transportation, banking and inanely, services, insurance.

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