NIIT has entered into a Share Purchase Agreement with Genpact Consulting (Singapore) and NIIT Institute of Process Excellence (NIPE), in terms of which Company has agreed to acquire 55 lakh equity shares of NIPE, the joint venture company having face value of Rs 10 each constituting 25% of the aggregate issued and paid-up share capital of NIPE from Genpact, its joint venture partner for an aggregate cash consideration of Rs 5.50 crore.
The Board has approved the aforesaid acquisition of shares in the meeting held on August 10, 2019. The Company is already holding 75% of the aggregate issued and paid up share capital of the NTPE and post aforesaid acquisition, NIPE will become a 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.
