National Institute of Information Technology (NIIT) is an Indian Multinational company that offers learning management and training delivery solutions to corporations, institutions, and individuals. It has three main lines of business worldwide -Corporate learning group, skill, and career group and school learning group.
NIIT is a leading Skills and Talent development corporation that is building a manpower pool for global industry requirements. The company set up in 1981 to help the nascent IT industry. With a footprint across 30 nations, NIIT offers training and development solutions to individuals, enterprises, and institutions.
NIIT Ltd Buyback 2019
|Buy Back Type||TENDER OFFER|
|Date of Announcement||10 AUG 2019|
|No. Of Shares Buyback||2,68,00,000|
|Record Date||10th August 2019|
|Opening Date||25TH NOIV 2019|
|Closing Date||06TH DEC 209|
|Buy Back Amount & %||RS.335 CR, 15.99%|
|Buy Back Price||RS 125/-|
|Face Value||RS 2/- per equity shares|
|Share Holdings||NON INST 34.69%|
MUTUAL FUNDS 17.06%
How To Participate Buyback
To participate in Buy back the investor should have shares of NIIT LTD in demat or physical form as on record date 18th October 2019.
If you are eligible for buyback you would receive a tender form to your registered email id or the form to be delivered by courier from the company’s RTA.
Once you have shares in Demat, you can participate in the buyback process by selling your shares through your broker on NSE or BSE from (25-11-19 to 06-12-19).
The payment will be given to you for the accepted shares on 17-12-2019 and unaccepted shares will be returned to your Demat account.
The company approved a proposal of buyback of up to 26,800,000 fully paid-up equity shares of the company face value of Rs. 2 per equity shares is 15.99% of total issued paid-up equity shares capital of the company.
NIIT Ltd Buyback 2019 Review
NIIT buyback as an official acceptance ratio for the retail investors is between 15-20% and the actual acceptance ratio to be 30-60%.
We rate this buyback 3.5 out of 5.