NIIT surges 19.98 per cent after firm anounces buyback of shares

Published On: Thursday, April 1, 2021 | By: Team KnowMyStock

Shares of skills and talent development firm NIIT Ltd surged 19.98 per cent to Rs 165.45 on the BSE in intra-day trade on Thursday after the company announced that its buyback offer would open on April 12, 2021, and the closing date has been set for April 28, 2021. On December 24, 2020, NIIT Ltd's Board of Directors had approved a proposal for buyback of up to 9,875,000 equity shares for an aggregate amount not exceeding Rs 237 crore. The buyback price has been fixed at Rs 240 apiece. In accordance with the SEBI (Buy-Back of Securities) Regulations, 2018, the company will dispatch the letter of offer for the buyback to eligible shareholders, appearing on the record date of February 24, 2021, on or before April 5, 2021. NIIT offers training and development solutions to individuals, enterprises and institutions. NIIT has two main lines of business across the globe - corporate learning group and skills & careers business.

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