(BPEA) has reached an agreement to buy approximately 30 per cent shareholding on a fully diluted basis in IT solutions firm Technologies from Ltd and other promoter entities at a price of Rs 1,394 per share.

The aggregate consideration for purchase of shares from promoter entities is estimated to be Rs 2,627 crore, Technologies said on Saturday.


In accordance with the regulations, BPEA will make an open offer to the public shareholders of NIIT Technologies to purchase up to 26 per cent additional shareholding at a price of Rs 1,394 per share, the company said.

The aggregate consideration for purchase of shares from promoter entities and the open offer is estimated to be up to some Rs 4,890 crores based on ownership of approximately 56 per cent stake.

became an independently listed company after demerger from in 2004.

“The involvement of will provide further impetus to the management team led by to take the company to the next level of growth,” Rajendra Pawar, Chairman, NIIT Technologies, said in a statement.

“BPEA is pleased to be investing in NIIT Technologies. We look forward to partnering with the company’s management team to continue to build the business over the coming years,” said Jimmy Mahtani, of BPEA.

–IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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