Baring PE to acquire 30.04 per cent in NIIT Tech

NIIT will be selling 23.10 per cent in NIIT Tech. The Thadani Family Trust, along with other entities/members of the family, and the Pawar Family Trust, along with other entities/members of the family, will be selling an aggregate of 6.94 per cent stake, NIIT Tech indicated in the filing.

NIIT Tech closed Friday’s trading session up 1.47 per cent at Rs 1,349.50 on the BSE.

BPEA is also making an open offer to the shareholders of NIIT Tech to buy an additional 26 per cent stake in the firm at a price of Rs 1,394 per share

As a result, BPEA is looking to acquire a total of 56 per cent stake in the IT firm for a consideration of Rs 4,890 crore.

NIIT Tech chairman Rajendra Pawar said the long-standing relationships with marquee customers, many spanning over two decades, are a consequence of a sharp focus on identified verticals, including, travel, banking and insurance and distinctive capabilities developed. —FE