Baring Private Equity Asia (BPEA) has acquired 30.50 per cent stake in mid-sized software services firm NIIT Technologies Ltd for about Rs 2,627 crore, a regulatory filing said Saturday.
Last month, funds affiliated with BPEA had signed definitiveagreements to purchase 30.5 per cent stake in NIIT Technologies from NIIT Ltdand other promoter entities at Rs 1,394 per share.
In a filing to BSE Saturday, NIIT Technologies said HulstB.V. Acquired 18,848,118 equity shares of the company with face value of Rs 10each on May 17.
The Netherlands-registered Hulst B.V. Is indirectly owned byfunds affiliated with BPEA.
Following the stake transfer, the firm’s Chairman RajendraSingh Pawar, Vice Chairman and Managing Director Arvind Thakur andNon-Executive Director Vijay Kumar Thadani have resigned from their positionsas directors on the board with immediate effect, it added.NIIT Technologies’ promoters, which includedNIIT Ltd and the families of Rajendra Pawar and Vijay Thadani, had a total of30.04 per cent stake in the company. NIIT Ltd directly held 23.1 per centstake.