India's NIIT Technologies shares fall; Baring Private Equity Asia to buy 30 pct stake
08/04/2019 05:45
** IT solutions company NIIT Technologies Limited NITT.NS
fall as much as 2.8 pct to 1,310.2 rupees, their biggest daily
pct loss since Feb. 15
** Baring Private Equity Asia (BPEA) to acquire 30 pct stake
in co from NIIT Limited NIIT.NS and other promoter entities
for aggregate consideration of about 26.27 bln rupees, co said
in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/c7a369b1-4a0d-4d52-90f3-e224fe6b264d.pdf
on Saturday
** BPEA will make an open offer to the public shareholders
of co to purchase up to 26 pct additional shareholding at a
price of 1,394 rupees per share
** About 461,423 shares change hands compared with the
30-day average of around 649,252 shares
** 17 of 19 brokerages rate the stock "buy" or higher, two
"hold"; median PT 1,440 rupees - Refinitiv Eikon data
** As of Friday's close, stock is up 17.29 pct so far this
year
((harish.bhaskar.thomsonreuters.com@reuters.net))