| Opening of Offer to Buy – Acquisition Window (Buyback) for NIIT Limited |
Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and De-listing, vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, and 20190207-23 dated 07 Feb 2019 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that NIIT Limited (the ‘’Company”), has announced an offer for buyback of up to 26,800,000 (Two Crore And Sixty Eight Lakhs Only ) fully paid-up equity shares of face value of Rs. 2 each, (“Equity Shares”), representing up to 15.998% of the issued and paid-up equity share capital of the Company as on June 30, 2019, on a proportionate basis, from the eligible shareholders holding equity shares as on October 18, 2019 (the “Record Date”), by way of Tender Offer , for cash at a price of Rs.125/- (Rupees One Hundred And Twenty Five Only) per equity share for an aggregate amount of up to Rs. 3,350,000,000/- (Rupees Three Hundred and Thirty Five Crore Only) (“Buyback”). The buyback shall be up to 24.59% and 23.00% of the aggregate total issued, paid-up equity share capital and free reserves of the Company as per the audited consolidated and standalone condensed interim financial statements respectively, of the Company as at and for the period ended June 30, 2019, in accordance with Section 68(2)(C) of the Companies Act, 2013 and Buyback Regulations, from November 25, 2019 to December 06, 2019.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
November 15, 2019
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