Valuing NIIT at a slight premium, Baring Private plans to buy out the company for 1.2 Billion USD. If this deal goes through, it will also trigger a mandatory buyout of 26% shares from public stakeholders, and this deal will be over 600 million USD alone.
Baring is planning to consolidate a range of mid-level IT companies and recently evaluated a bid to buy MindTree due to this reason. They already own Hexaware Technologies. Although this is a significant buyout, both NIIT and Baring did not offer any comments regarding the same. There is no indication regarding when this deal with go through, and what NIIT has to say about it.
NIIT recently saw an extremely profitable set of quarters, due to which promoters upped their asking price per share. It is estimated that Baring will be paying anywhere between 1,300-1,380 INR a piece. The share actually closed at 1,358 INR on Monday. This was an increase of 1.1% in the Mumbai market. Its mcap is at 88 Crore INR at the moment.
NIIT’s stock has been seeing an increase of 21% over the last three months.