NIIT LTD. - 500304 - Announcement under Regulation 30 (LODR)-Acquisition
Pursuant to Reg 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that NIIT Limited, ('NIIT') has executed a share purchase agreement ('SPA') and other transaction documents with RPS Consulting Private Limited ('Company') and its promoters, to acquire 100% equity shareholding in the Company in three tranches. The board of directors of NIIT ('Board'), at its meeting held on October 1, 2021, has approved the aforesaid acquisition and execution of the SPA and all other transaction documents. Pursuant to receipt of such approval, NIIT has acquired 70% equity shareholding (on a fully diluted basis) in the Company on October 1, 2021, while the balance 30% shareholding of the Company will be acquired in 2 tranches over next two and a half years based upon valuation methodology as agreed under the transaction documents. The Company has now become a subsidiary of NIIT. Details as required under reg 30 of LODR is provided in Annexure A.01-10-2021