For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

NIIT Technologies Buyback Offer Opens Today: Here's All You Need To Know

|

On December 23 last year, the board of NIIT has received buyback issue and the same received approval from the company's shareholders in February. The record date for determining the eligibility for the buyback was March 12.

NIIT Technologies Buyback Offer Opens Today: Here's All You Need To Know
 

Here are the details:

1. On a proportionate basis, the company will buyback fully paid 19,56,290 equity shares of Rs. 10 face value from the eligible shareholders.

2. The company will buyback share via a tender offer route at a price of Rs. 1725 per share, which is a 17% premium to the December 16 closing price.

3. The company proposed to buyback shares worth Rs. 337.46 crore via the buyback offer.

4. The buyback offer opens today i.e. May 29 and will close on June 11.

5. The last date for receiving completed tender forms together with other specified documents that includes physical share certificate by the registrar by June 13 and the last date for settlement of bids will be June 22.

6. Also, the company has sent letter of offer through digital route to all its eligible shareholders by May 21.

GoodReturns.in

Read more about: niit buyback
Story first published: Friday, May 29, 2020, 16:56 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more