Financial Daily from THE HINDU group of publications
Saturday, Aug 28, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 28, 2004 |
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Markets
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Stock Markets Info-Tech - Stocks NIIT Technologies listing on BSE, NSE from Monday Our Bureau
New Delhi , Aug. 27 THE equity shares of IT solutions provider NIIT Technologies Ltd will begin trading on the BSE and the NSE from August 30. "In addition to getting approvals from the BSE and the NSE, the company has obtained in principle approvals from the Delhi, Chennai and Ahmedabad stock exchanges for listing of shares," an NIIT release said here. NIIT Technologies was formed following the spin off of the global software solutions business of NIIT earlier this year, with the appointed date being April 1, 2003. The equity capital of NIIT was allocated in a manner that in lieu of every 100 shares of face value Rs 10 each held by the shareholders of NIIT Ltd, they receive 50 shares of de-merged NIIT Ltd and 75 shares of NIIT Technologies Ltd. Consequent to the scheme, the shareholders of erstwhile NIIT Ltd hold 75 per cent of the equity share capital of NIIT Technologies Ltd. The de-merged NIIT Ltd, through a wholly-owned subsidiary, holds the balance 25 percent.
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