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Incorporated in 2004, NIIT Technologies is a leading global IT solution provider company. The company has experties in B&FS (Banking & Financial Services), Insurance and Travel & Transportation domain. The company offers various services including Application Services, Data & Analytics, Cloud Services, Digital Services, Business and Digital Process Transformation, etc. The company have around 10K employesss accross, presence in 18 countries, 34 sales officesm 17 delivery centers and 6 data centers.
Dec 23rd, 2019:NIIT Technologies (BSE:532541 | NSE:NIITTECH) board has approved a proposal for purchase of up to 19.56 lakh shares at Rs 1725 per share, aggregating Rs 337 Cr (Buyback Offer Size) that is 20.23% of total paid equity share capital.
Below is the complete details about NIIT Technologies Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 337 Cr |
| Buyback Number of Shares: | 19.56 Lakhs |
| Buyback Price: | Rs 1725 |
| Buyback Offer Size (In %): | 20.23% |
| Total Share Capital: | Rs 9889.81 Cr |
| Face Value: | Rs Per Equity Share |
Can I Invest today to participate in NIIT Technologies buyback offer? No
We advocate honest for NIIT Tech buyback as official acceptance ratio for the retail investors are going to be between 15 to 20% (Fifteen to Twenty percent) and actual acceptance ration is going to be thirty to sixty percent (30% to 60%). We tend to rate NIIT buyback as 3.5/5 (Average).
Making a resonable amount of profit is possible in NIIT Tech buyback for a new retail investor. With referance to current market price buyback price is up by 9% (Approx).
In this section we have covered all important dates related to NIIT Technologies Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 23rd Dec 2019 |
| Buyback Approval date | 23rd Dec 2019 |
| Public Announcement of Buyback | 23rd Dec 2019 |
| Record Date | 12th Mar 2020 |
| Buyback opens on/Buyback Opening Date | 29th May 2020 |
| Buyback closes on/Buyback Closing Date | 11th Jun 2020 |
| Cut-off date to receive completed tender forms by Registrar | 13th Jun 2020 |
| Cut-off date for verification by the Registrar | 19th Jun 2020 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
19th Jun 2020 |
| Last date of settlement of bids on the stock exchange | 22nd Jun 2020 |
| Last date to return unaccepted shares by Registrar | 22nd Jun 2020 |
| Last date of extinguishment of Equity Shares | 29th Jun 2020 |
Stock Holding table gives a clear picture on retail investor holdings of NIIT Technologies shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 70.04% |
| Non-Promoter-Institutions | 21.14% |
| Non-Promoter-Non-Institutions | 8.79% |
NIIT Technologies Public Announcement >>Document
NIIT Technologies Letter of Offer >>Document
NIIT Technologies Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 5 Equity Share out of every 16 fully paid-up Equity Share held on the Record Date. | 31.28 |
| General Category | 1 Equity Share out of every 37 fully paid-up Equity Share held on the Record Date. | 2.70% |
For NIIT Technologies Buyback Offer, Report updated by the manager of buyback -
In general category - response received 25%, No. of Equity Shares reserved in Buyback was 1662846 where valid bid received for retail category was 6518783 which is 25% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 100%, No. of Equity Shares reserved in Buyback was 293444 where valid bid received for retail category was 182971 which is 100%. Final Acceptance Ratio for Retail Investors was 100%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 933.35 (0.18%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 162.50 (-1.34%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 289.85 (-0.38%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 464.70 (1.10%) | 22-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
NIIT Technologies Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for NIIT Technologies? How can I apply in NIIT Technologies Buyback offer?Last Updated on 2020-07-10T23:19:32+00:00
