Shares of NIIT will turn ex-date on Thursday for the proposed buyback. It had approved a proposal to buy back 2.68 crore shares, or 16 per cent of its equity, at ₹125 a share for ₹335 crore through the tender route.
NIIT had divested its entire stake in NIIT Technologies to Baring Private Equity Asia Ltd’s arm Hulst BV in April and received ₹2,020 crore from the stake sale. Investors must own the company’s shares by Wednesday to become eligible to participate in the buyback offer.