Hulst BV acquires 1.6 lakh shares of NIIT Technologies

Hulst BV has acquired additional 1.6 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to 32.38 per cent, a regulatory filing said Sunday. "Hulst BV has acquired 1,60,000 equity shares (with face value of Rs 10 each) of NIIT Technologies Ltd, on May 24, 2019," NIIT Technologies said in an NSE filing.

The shares were bought at Rs 1,267.23 apiece. With the latest transaction, Hulst BV now owns 32.38 per cent stake in NIIT Technologies. In April, Baring Private Equity Asia (BPEA) had announced buying about 30 per cent stake in NIIT Tech from NIIT Ltd and other promoter entities at a price of Rs 1,394 per share, putting the transaction value at about Rs 2,627 crore.

The deal triggered an open offer, which is slated to commence from May 31. The total consideration for the open offer, at full acceptance, would be up to Rs 2,262.34 crore.

Hulst BV, an investment holding company registered in the Netherlands, is a part of BPEA.